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MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  Mediaset Espana Comunicacion, S.A.    TL5   ES0152503035

MEDIASET ESPANA COMUNICACION, S.A.

(TL5)
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Mediaset Fails to Reach Agreement With Vivendi, Confirms MFE Project

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11/22/2019 | 09:34am EST

By Giulia Petroni

Mediaset said Friday that it failed to reach an agreement with its shareholder Vivendi and confirmed it will proceed to create a pan-European media group despite the French broadcaster's attempts to halt the project.

The Italian broadcaster said its plan to merge with Mediaset Espana Comunicationes SA (TL5.MC) to create the so-called Media for Europe company will go ahead.

The decision comes after the company failed to reconcile with Vivendi ahead of a court hearing scheduled for later Friday.

"The MFE Project is essential for the future of the Mediaset group, as well as for all its shareholders and stakeholders, who would suffer serious damage if it were not carried out," Mediaset said, adding that it called an extraordinary shareholders meeting for Jan. 10, related to the project.

Last month, Vivendi requested the Court of Milan to issue a preliminary suspension of Mediaset's plan to merge its Italian and Spanish businesses into a new Dutch holding company. Vivendi pledged legal action arguing the strategy "disregards basic shareholders' rights" and would only benefit Mediaset's largest shareholder Fininvest.

Write to Giulia Petroni at giulia.petroni@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
MEDIASET 4.49% 2.255 Delayed Quote.-18.87%
MEDIASET ESPANA COMUNICACION, S.A. 3.80% 4.866 End-of-day quote.-17.17%
VIVENDI 0.28% 24.9 Real-time Quote.-3.83%
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Latest news on MEDIASET ESPANA COMUNICACI
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Financials (EUR)
Sales 2019 943 M
EBIT 2019 258 M
Net income 2019 202 M
Finance 2019 86,1 M
Yield 2019 9,88%
P/E ratio 2019 7,64x
P/E ratio 2020 8,09x
EV / Sales2019 1,47x
EV / Sales2020 1,45x
Capitalization 1 468 M
Chart MEDIASET ESPANA COMUNICACION, S.A.
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Technical analysis trends MEDIASET ESPANA COMUNICACI
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Average target price 6,39  €
Last Close Price 4,69  €
Spread / Highest target 235%
Spread / Average Target 36,3%
Spread / Lowest Target -14,7%
EPS Revisions
Managers
NameTitle
Paolo Vasile Chief Executive Officer & Executive Director
Alejandro Echevarría Busquet Chairman
Massimo Musolino Executive Director & Managing Director-Operations
Francisco Javier Uria Iglesias Director-Finance & Economics Division
Eugenio Fernández Aranda Director-Technology Division
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