UK markets close in 6 hours 31 minutes
  • FTSE 100

    5,853.72
    -6.56 (-0.11%)
     
  • FTSE 250

    18,077.14
    -32.43 (-0.18%)
     
  • AIM

    982.74
    +2.29 (+0.23%)
     
  • GBP/EUR

    1.1049
    +0.0058 (+0.53%)
     
  • GBP/USD

    1.3051
    +0.0013 (+0.10%)
     
  • BTC-GBP

    10,031.64
    +13.21 (+0.13%)
     
  • CMC Crypto 200

    263.00
    +1.54 (+0.59%)
     
  • S&P 500

    3,465.39
    +11.90 (+0.34%)
     
  • DOW

    28,335.57
    -28.13 (-0.10%)
     
  • CRUDE OIL

    38.75
    -1.10 (-2.76%)
     
  • GOLD FUTURES

    1,903.10
    -2.10 (-0.11%)
     
  • NIKKEI 225

    23,494.34
    -22.25 (-0.09%)
     
  • HANG SENG

    24,918.78
    +132.68 (+0.54%)
     
  • DAX

    12,377.53
    -268.22 (-2.12%)
     
  • CAC 40

    4,884.50
    -25.14 (-0.51%)
     

Italy regulator refers decision on Vivendi's stake in Mediaset to administrative court

·1-min read
FILE PHOTO: The Mediaset tower is seen at the headquarter in Cologno Monzese, near Milan

Italy regulator refers decision on Vivendi's stake in Mediaset to administrative court

FILE PHOTO: The Mediaset tower is seen at the headquarter in Cologno Monzese, near Milan

MILAN (Reuters) - Italy's communications watchdog AGCOM said on Wednesday it would refer a decision on restrictions posed on media group Vivendi's <VIV.PA> stake in the country's top commercial broadcaster Mediaset <MS.MI> to an administrative court.

The Court of Justice of the European Union this month ruled that an Italian law which forced France's Vivendi, Mediaset's second-biggest shareholder, to freeze most of its voting rights in the Italian group violated the bloc's rules.

The EU court ruling, potentially allowing for a shake-up of Italy's media industry, prompted AGCOM to look into its decision to curb Vivendi's stake in Mediaset, which is controlled by the family of former Italian Prime Minister Silvio Berlusconi.

The administrative court of the Lazio region has already scheduled a hearing for Dec. 16 to look into a request by Vivendi to annul the restrictions, which cap its voting rights in Mediaset at below 10% despite an actual 29% holding in the broadcaster.

The regulator said it would be up to the Lazio court to decide what action needs to be taken on the restrictions.

(Reporting by Elvira Pollina, editing by Agnieszka Flak)