Vivendi Secures Voting Rights at Mediaset Shareholders Meeting
September 4, 2019
Cleary Gottlieb represented Vivendi S.A. (Vivendi) in interim proceedings to obtain an injunction from the Court of Milan ordering Mediaset to allow Vivendi to vote its shares (9.99% of the voting rights) at Mediaset’s shareholders’ meeting on September 4, 2019.
Mediaset had previously effused to allow Vivendi to attend its shareholders meeting, arguing that Vivendi had acquired its shares in breach of contractual and regulatory obligations.
Vivendi’s urgent application on August 23, 2019, was followed by oral arguments on August 29, 2019. On August 31, 2019, the court ordered “Mediaset and, in particular, the person who will preside over the shareholders’ meeting called for September 4, 2019, to admit to meeting the 113.53 million shares of Vivendi, representing 9.61% of the share capital of Mediaset (and 9.99% of the voting rights) and to allow it to exercise its voting rights and all the administrative rights related to 9.61% of shares.”