October 15, 2019 / 5:55 PM / 2 months ago

Mediaset Espana says cash outlay for withdrawal rights amounts to 255.4 mln euros

MILAN, Oct 15 (Reuters) - Mediaset Espana’s shareholders opted to cash in 39 million shares ahead of a corporate overhaul aimed at folding the Spanish broadcaster into its parent unit Mediaset under a Dutch holding company, Mediaset Espana said on Tuesday.

The cash outlay needed to pay off shareholders heading for the door totalled 255.4 million euros, above a 180 million euros ceiling which Mediaset had set as condition to finalise the deal. Last week Mediaset Espana reached a deal with Credit Suisse to cover withdrawal requests in excess of the ceiling.

Reporting by Elvira Pollina, editing by Stephen Jewkes

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