Vivendi is taking legal action against Mediaset's plans to reshape its futu...
MILAN - Vivendi is taking legal action against Mediaset’s plans to reshape its future after deciding to hold on to its stake in the Italian broadcaster after a deadline to sell expired.Mediaset this month won shareholder approval to create a pan-European media group in an effort to pursue continental alliances with rivals and fend off growing competition from streaming services such as Netflix or Amazon Prime Video.
Sources familiar with the matter told Reuters the French media giant decided to hold on to its stake and fight the corporate revamp in court. Mediaset and Vivendi have been locked in a legal battle since falling out over a failed pay-TV deal back in 2016. Selling the stake would have translated into a loss of around 320 million euros for the French group.
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