October 10, 2017 / 3:04 PM / 5 months ago

Mediaset up 5 percent on report of Vivendi mulling 1 billion euros offer to settle pay-TV dispute

MILAN (Reuters) - Shares in Mediaset (MS.MI) rose more than 5 percent on Tuesday after a Bloomberg report said French media group Vivendi (VIV.PA) was considering making a cash and stock offer to settle its pay-TV dispute with the Italian broadcaster.

FILE PHOTO: A woman walks walk past the main entrance of the entertainment-to-telecoms conglomerate Vivendi's headquarters in Paris, France, April 8, 2015. REUTERS/Gonzalo Fuentes/File Photo

Bloomberg said in a source-based report that Vivendi was considering giving Mediaset a compensation package that may be valued around 1 billion euros ($1.2 billion).

    The report also added that Mediaset’s Premium pay-TV unit could become part of a joint venture that is being set up between Vivendi’s own pay-TV arm Canal+ and Italian phone group Telecom Italia (TLIT.MI). Vivendi is the biggest shareholder in Telecom Italia with a 24 percent stake.

    Mediaset shares were up 3 percent by 1455 GMT, while Telecom Italia stock was down 1.3 percent.

    Reporting by Valentina Za, writing by Agnieszka Flak

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