MILAN, March 26 Shares in Mediaset
opened up 4 percent on Wednesday before paring gains after the
TV company reported stronger than expected annual operating
profits but gave no specific outlook for the year.
By 0828 GMT, the stock was up 1.1 percent at 3.9 euros. The
blue-chip Milan index edged up 0.3 percent.
Italy's biggest TV broadcaster, having beaten 2013 profit
expectations by cutting costs more than anticipated, said late
on Tuesday advertising trends in its core Italian and Spanish
markets this year were unpredictable due to economic
Analysts welcomed the better than-expected showing for cost
cuts but some of them cautioned over the uncertain outlook and
fading M&A expectations for the company's pay-TV business.
(Reporting by Danilo Masoni; Editing by Lisa Jucca)