Italian media giant Mediaset is dusting off plans for international expansion, wrapping a number of ventures into a single holding company.
Mediaset confirmed late Monday that it would be asking shareholders to approve a new version of MediaForEurope that would move its legal headquarters to the Netherlands, where Dutch law made it easier to raise finance and work on joint-ventures with other companies.
It was forced to drop a previous plan for a Dutch HQ after objections from shareholder Vivendi. The French concern pursued a series of court cases to make its point.
This time around, Mediaset is dropping a loyalty share scheme that would have strengthened the hand of its leading shareholder, the Berlusconi family.
Mediaset needs to work with Vivendi to get its plan approved. Last Friday, an Italian court restored Vivendi’s voting rights on its 29% stake.
Vivendi’s previous objections began after the collapse of a deal to take over Mediaset Premium, the company’s Italian DTT pay operation.