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MFE offers to buy 1.05% stake in Mediaset Espana from Vivendi ahead of delisting
Home > Top Stories > MFE offers to buy 1.05% stake in Mediaset Espana from Vivendi ahead of delisting
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(Reuters) – MFE-Mediaforeurope said on Tuesday it agreed with Vivendi to buy a 1.05% stake in Mediaset Espana it did not own yet for 10.7 million euros ($11.45 million) as it plans to delist the Spanish broadcaster.
(Reuters) – MFE-Mediaforeurope said on Tuesday it agreed with Vivendi to buy a 1.05% stake in Mediaset Espana it did not own yet for 10.7 million euros ($11.45 million) as it plans to delist the Spanish broadcaster.
MFE, controlled by the family of former Italian Prime Minister Silvio Berlusconi, said the transaction is expected to occur on Thursday and that the price was set at a 4.04% discount to the withdrawal right price.
The withdrawal right price is the amount that Mediaset Espana shareholders who vote against the merger by absorption of the company with MFE and exercise their withdrawal rights in the Spanish company’s extraordinary shareholders meeting scheduled for Wednesday are entitled to receive.
The Italian broadcaster said last year it carried out a public tender offer on the Mediaset Espana shares last year and now intends to delist the shares from the Madrid stock exchange.
($1 = 0.9351 euros)
(Reporting by Joao Manuel Mauricio in Gdansk, Editing by Louise Heavens)
A stake in a company refers to the ownership interest held by an individual or entity, usually represented as a percentage of the company's total shares.
A public tender offer is a bid made by an individual or company to purchase some or all of shareholders' shares at a specified price, often at a premium over the current market price.
A merger by absorption occurs when one company takes over another, with the acquired company ceasing to exist and its assets and liabilities being absorbed by the acquiring company.
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