They have officially left the share split and the double listing of the titles of the former Mediaset which last month officially changed its name, becoming Mfe-Mediaforeurope. After spending more than two hours in the volatility auction, both the category A and category B shares entered trading.
Recall that, following the conversion, all existing actions have become class B shares, While the class A shares have been allotted to holders of B shares (other than the company) on an even par basis. The only difference between the two categories lies in the voting rights: the A's give the right to a single vote in the meeting, the B's to ten votes. From an economic point of view, however, both will be entitled to the same dividends and any takeover bid on Mfe must concern both categories of shares.
The introduction of the new shareholder structure “represents a key step in pursuing the creation of a pan-European group in the entertainment and content sector as it will provide greater flexibility for the financing of any future M&A operations“explained the company.
At the opening, the A shares marked a theoretical price of 1,1002 euro, the B shares of 1,4694. By mid-morning, the former were trading at 1,0488 euros (-4,67%), the latter at 1,3 euros (-6,4%). Numbers that, added together, result above 2,343 euros marked as the closing price of B securities in last Friday's session.
