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Mediaset: MFE project confirmed after shareholders vote

( - Shareholders of Italian broadcaster Mediaset on Friday voted to approve certains terms and conditions of the company's "Media For Europe" structure, meaning that the project is now confirmed and will go ahead.

Outmanoeuvred by Mediaset's board of directors, the French shareholder Vivendi was not allowed to participate in the deliberations, as it opposed the plan.

For the record, the "Media For Europe" project means a cross-border merger between Mediaset and Mediaset Espana into a new holding company incorporated under Dutch law.

The move, considered as a priority for Mediaset, aims to create a pan-European media and entertainment group that has a leading position in local markets and greater scale to compete with rivals such as Netflix.

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