By Mauro Orru 
 

Mediaset SpA (MS.MI) said Friday that its shareholders approved plans to create a pan-European media and entertainment holding company at today's extraordinary general meeting.

The Italian broadcasting company wants to establish Media for Europe NV, a Dutch holding company, through the merger of its Italian and Spanish operations, which shareholder Vivendi SA (VIV.FR) opposes.

"The MFE project is confirmed and proceeds," Mediaset said, describing the project as a "priority."

Mediaset said earlier Friday that Simon Fiduciaria--an asset trust which holds a stake in Mediaset on behalf of Vivendi SA (VIV.FR)--wouldn't be able to exercise voting rights at the meeting.

A court hearing about Mediaset's merger-related dispute with Vivendi is set for Jan. 21.

Write to at mauro.orru@wsj.com

(END) Dow Jones Newswires

January 10, 2020 08:21 ET (13:21 GMT)