Mediaset investors agree to move company legal base to the Netherlands


The Mediaset logo is seen in the headquarters ahead of the commercial broadcaster's annual general meeting in Cologno Monzese, near Milan, Italy, June 22, 2021. REUTERS/Flavio Lo Scalzo

MILAN (Reuters) - Mediaset's shareholders on Wednesday backed a plan to make the Netherlands the legal base of Italy's top commercial broadcaster, potentially paving the way for cross-border deals needed to fight competition from online rivals.

Mediaset's investors equal to 95.6% of the capital represented at the shareholders meeting backed the redomiciliation plan, the company said in a statement.

The Dutch base move was part of a deal between Mediaset and its second-largest investor Vivendi to end a five-year long legal battle paralysing Mediaset's strategy.

(Reporting by Elvira Pollina, editing by Cristina Carlevaro)

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