December 6, 2019 / 4:40 PM / 2 months ago

Italy judge takes time to rule in Mediaset-Vivendi case - legal sources

MILAN, Dec 6 (Reuters) - A Milan judge could wait until early next year before deciding on Vivendi’s request to suspend a corporate reorganisation at Italian broadcaster Mediaset, two legal sources said after a closed-door hearing on Friday.

Controlled by the family of former Prime Minister Silvio Berlusconi, Mediaset is pursuing a plan to create a pan-European TV champion by merging its Italian and Spanish businesses under a Dutch holding company dubbed MfE.

Vivendi, which is Mediaset’s second largest shareholder with a 29% stake, is challenging the corporate overhaul in court, saying it harms minority shareholders.

The sources said the judge could take a decision in the coming days on the matter or else wait until after a Jan. 10 meeting where Mediaset shareholders will be called to approve amendments to MfE’s by-laws introduced to comply with indications previously received by the court.

The two companies, which have been locked for years in a number of legal battles, last week failed to reach an out-of-court settlement.. (Reporting by Elvira Pollina, editing by Valentina Za)

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