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Mediaset set to win more time to complete merger of Italy, Spain units: Sources

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Mediaset will submit revised plans to merge its Italian and Spanish broadcasting units under a Dutch entity to authorities in the Netherlands, ...

MILAN: Mediaset will submit revised plans to merge its Italian and Spanish broadcasting units under a Dutch entity to authorities in the Netherlands, securing a six-month extension to complete the project, two sources familiar with the matter said.

But its major shareholder Vivendi, led by French billionaire Vincent Bollore, is fighting the project in courts across Europe, saying the governance structure of the new entity would strengthen the Berlusconis' grip on the company. One of the sources said that Mediaset was obligated to resubmit the plan after the bylaws changes but still aimed to complete the merger by the current March 19 deadline.

 

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