October 28, 2017 / 1:19 PM / a year ago

Mediobanca CEO hopes for accord on Vivendi-Mediaset dispute

FILE PHOTO: The Mediaset tower in Cologno Monzese, near Milan, Italy, April 8, 2016. REUTERS/Stefano Rellandini/File Photo

MILAN (Reuters) - Mediobanca Chief Executive Alberto Nagel said on Saturday he hoped Italian broadcaster Mediaset (MS.MI) and French media group Vivendi (VIV.PA) will find a satisfactory solution to resolve their pay-TV dispute.

Speaking at the Italian investment bank’s shareholder meeting, Nagel added he was close to both parties.

French business tycoon Vincent Bollore, who serves as Vivendi chairman, is a key shareholder in Mediobanca, along with Fininvest, the holding company of former Italian prime minister Silvio Berlusconi, which is the biggest shareholder in Mediaset.

Nagel also said there were no grounds to criticize Vivendi’s stake-building at Telecom Italia (TLIT.MI), saying “there’s never been a queue” to invest in the Italian phone group.

Reporting by Gianluca Semeraro; writing by Agnieszka Flak; editing by Alexander Smith

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