Mediaset has received shareholder backing for the merger of its Italian and Spanish interests.
Shareholders voted in favour of the plan that would combine the two centres of operations into a Dutch holding company known as Media for Europe that the Berlusconi family hopes will later see the participation of other European broadcasters.
It already owns 9.9% in the German network ProSiebenSat.1 following a friendly acquisition in June.
Around a fifth of the available votes went against Mediaset, which continues to do battle with the French media concern Vivendi. However, Vivendi was only able to exercise 9.6% of its holding that is directly held in Mediaset by the company and not another 19.4% held in an arm’s length trust following one of many court rulings.
Vivendi has now built an additional 1% share in Mediaset Espana.
