April 9, 2019 / 11:00 AM / in 15 days

Milan court delays hearing over Mediaset's AGM tussle to October 22

FILE PHOTO: The Mediaset tower is seen in Cologno Monzese neighbourhood Milan, Italy, in this April 7, 2016 file photo. REUTERS/Stefano Rellandini/File Photo

MILAN (Reuters) - A Milan court has postponed a hearing to rule on a request from Mediaset shareholder Simon Fiduciaria to scrap two decisions which the investor was banned from voting on at an AGM last year, a legal source said on Tuesday.

The source said the hearing had been moved to Oct. 22.

Vivendi, which holds 29 percent of Mediaset, last year transferred a 19.19 percent holding in Italy’s biggest private broadcaster to the Simon Fiduciaria trust to comply with antitrust demands it cut its stake in either Mediaset or telecoms incumbent Telecom Italia.

In June, Mediaset prevented the trust from voting at its annual general meeting, prompting Simon Fiduciaria to launch a legal challenge to have two of the decisions taken at the meeting scrapped.

The two decisions related to the establishment of an incentive and retention plan and of a stock option plan.

Reporting by Giancarlo Navach and Elvira Pollina; editing by Valentina Za and Kirsten Donovan

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below