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THE COURT OF MILAN REJECTS VIVENDI'S APPEAL A CRUCIAL STEP FORWARD FOR THE LAUNCH OF MFE- MEDIAFOREUROPE

THE COURT OF MILAN REJECTS VIVENDI'S APPEAL

A CRUCIAL STEP FORWARD FOR THE LAUNCH OF MFE- MEDIAFOREUROPE

Mediaset is satisfied with today's ruling by the Court of Milan. By Ordinance No. 8203/2020 + 8226/2020 R.G. the Court (comprised by the President Angelo Mambriani and the Judges Amina Simonetti and Maria Antonietta Ricci), rejected the appeals submitted by Vivendi and Simon Fiduciaria against the first instance ruling issued by the same Court on February 3.

According to the Judges, the French multinational company acted not as a partner but as a competitor, opposing Mediaset's MFE project: «Vivendi objectively puts itself in a situation of potential conflict with Mediaset in terms of expansion in the European media markets.  Consequently», continues the ordinance, «given the position of the two companies, it is easy to recognise that Vivendi could very well find strategies to limit and shrink Mediaset's activities, functional to its very broad interests».

Again, according to the Judges, contrary to what Vivendi claims, the MFE project was positively received by the market: «The complainants claim that the transaction in question was unanimously criticised by independent advisors is completely unfounded».

Finally, the Court of Milan also denies Vivendi's claim that it has no industrial value: «The Merger operation has a substantial economic and commercial rationale», and the decision further reads, «and is an important strategic objective for the Mediaset Group to become a leading player in the European communication and media market».

This ruling, which now ends the legal dispute in Italy, is a crucial step forward for the launch of MFE MEDIAFOREUROPE. 

Cologno Monzese, June 19, 2020

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