Earlier this week a Milan court allowed the French media giant a vote in the meeting to establish a new pan-European holding company.
But the judge said the decision applied only to the 9.6% that is directly held by Vivendi in the Italian company and not another 19.4% that is currently held under to Simon Fiduciaria to satisfy an earlier Italian court ruling.
Mediaset’s proposed Dutch holding company Media for Europe will complete a reverse takeover of Mediaset and Mediaset España Comunicación.
Vivendi claims the ruling relies on an interpretation of Italian media law which is contrary to the EU Treaty. It says increasing number of shareholders and investors are questioning the merits of the proposed transaction and doubt it could create any value.