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UPDATE 1-Italy court annuls Mediaset shareholder vote excluding Vivendi trust

(Recasts, adds Vivendi’s comment, context)

MILAN, April 23 (Reuters) - An Italian court has annulled a vote by Mediaset shareholders at a 2018 meeting where a Vivendi trust was barred, the Italian broadcaster said on Friday.

According to the court, all measures stemming from a national law giving Mediaset the power to exclude Vivendi are to be considered null and void, Mediaset said in a statement.

The ruling marks another victory for Vivendi which has been battling for recovery of its full voting rights at Mediaset.

A Vivendi spokesman said the group was very satisfied with the ruling.

Vivendi and Mediaset have been at odds since the French conglomerate dropped a deal to buy Mediaset’s pay-TV unit in 2016 and then built up a 29% stake in the group, which the broadcaster considers hostile.

Friday’s court decision stems from a European Union top court ruling last year which said an Italian law forcing Vivendi to put most its stake in the Milan-based TV group into a trust violated the bloc’s rules.

In 2017 Italy’s telecoms watchdog ruled Vivendi had an excessive presence in the country’s media and telecoms sectors and had to sell down its interests in one or the other.

As a result Vivendi, which also holds a 24% stake in telecoms incumbent Telecom Italia (TIM), parked two-thirds of its Mediaset stake in the trust Simon Fiduciaria. (Reporting by Giulio Piovaccari, editing by Kirsten Donovan)

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