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Mediaset ready to change pan-Europe TV governance to appease Vivendi: source

FILE PHOTO: A Vivendi logo is seen in Paris April 8, 2015. REUTERS/Gonzalo Fuentes/File Photo

MILAN (Reuters) - Italian broadcaster Mediaset MS.MI is ready to modify the governance of its pan-Europe TV reorganisation in order to reach a compromise with hostile shareholder Vivendi VIV.PA>, a source said on Tuesday.

Italy’s biggest commercial broadcaster is seeking to merge its domestic and Spanish businesses into a Dutch entity called MediaforEurope to pursue pan-European tie-ups.

But Vivendi, the second largest shareholder in the group controlled by the family of former Prime Minister Silvio Berlusconi, has challenged the plan.

A Milan court was expected to rule as early as this week on a request from Vivendi to freeze the corporate overhaul.

In a statement on Tuesday Mediaset said the court had extended the deadline to Nov. 22 to give the two sides time to try and reach an agreement.

Reporting by Elvira Pollina, writing by Stephen Jewkes