November 13, 2012 / 6:05 PM / 5 years ago

Mediaset sees no M&A deal in short term

MILAN, Nov 13 (Reuters) - Italy’s biggest broadcaster Mediaset sees opportunities for consolidation on the market but no deal is expected in the short term, its chief financial officer said on Tuesday.

“There have been many discussions about possible consolidation. There is nothing I would envisage in the coming weeks,” Marco Giordani told conference call, when asked about a possible partnership for its loss-making pay-TV unit.

“Nothing is in the negotiation stage and nothing will happen in the short term,” Giordani said.

Earlier on Tuesday, Mediaset announced a boost to its cost-cutting programme as it reported its first quarterly loss ever.

Mediaset competes with News Corp’s Sky Italia in the pay television sector.

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