June 28, 2017 / 9:46 AM / 2 months ago

Vivendi deserts Italy's Mediaset annual shareholder meeting

MILAN (Reuters) - French media group Vivendi (VIV.PA) deserted the annual shareholder meeting of Mediaset (MS.MI) on Wednesday, missing its first chance to make its presence felt after swiftly accumulating a 28.8 percent stake in the Italian broadcaster.

A spokesperson for Vivendi declined to comment when asked why the group did not participate.

The French group plans to cap its 29.9 percent voting rights in Mediaset to comply with an Italian antitrust ruling over its stakes in the broadcaster and Telecom Italia (TLIT.MI) as it prepares to appeal the ruling in court, a source close to the matter said earlier this month. [nI6N1IS00I]

Shareholders representing more than 51 percent of Mediaset's capital attended Wednesday's AGM where the group, controlled by the holding company of former Prime Minister Silvio Berlusconi with a 39.5 percent stake, will seek approval for a share buyback of up to 10 percent of capital.

Reporting by Giulia Segreti, editing by Valentina Za

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