MILAN: Vivendi has decided not to exercise withdrawal rights over its Mediaset holding as a deadline to liquidate the stake in the Italian broadcaster expired at the weekend, two sources close to the matter said on Monday.
The French media group had until midnight on Saturday to sell its 29 per cent stake back to Mediaset, following the approval of a corporate overhaul that will see Italy’s top commercial broadcaster merge its domestic and Spanish businesses under a Dutch holding company.
Sources familiar with the matter said on Sunday Vivendi had decided to fight the corporate revamp in court, broadening its legal spat with Mediaset beyond Italy, rather than head for the door. — Reuters
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