Mediaset proxy advisor stands against proposed changes to restrict minority shareholders to two seats on board - report (translated)
29 NOV 2017
ISS, the proxy advisor to Mediaset [BIT: MS] shareholders, has come out against proposed changes to the election of board members to the Italian media group, Italian-language daily Il Sole 24 Ore reported. The unsourced report said that ISS opposes the changes, which would restrict minority shareholders to only two seats on the board.
The report said that the changes are being proposed by Fininvest, the holding of the Berlusconi family that controls Mediaset.
ISS represents institutional investors in Mediaset, the report added.
As previously reported, Fininvest is believed to be introducing the changes to forestall any takeover attempts or other moves to loosen its control over Mediaset.
Mediaset has a market cap of EUR 3.8bn.