Mediaset: ends dispute with Vivendi
(CercleFinance.com) - Vivendi, Fininvest and Mediaset are pleased to announce a global agreement that puts an end to their disputes by waiving all litigation and claims between them: in particular, including a good neighbourhood agreements in free-to-air television and standstill commitments for a five-year term.
Vivendi will also vote in favour of transferring Mediaset's headquarters to the Netherlands and eliminating the double voting right mechanism. Fininvest will propose to Mediaset's General Meeting an exceptional dividend of 0.30 euro per share, to be paid on 21 July.
Vivendi has committed to sell all 19.19% of the capital of Mediaset held by Simon Fiduciaria on the market and over a five-year term. Fininvest will have a call option on any unsold security, every 12 months, at a fixed annual price.
Fininvest will acquire 5% of Mediaset's shares held directly by Vivendi at the ex-dividend price of 2.70 euros per share. Finally, Dailymotion has committed to pay 26.3 million euros to end the copyright dispute with RTI and Medusa.
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