Mediaset main owner is not buying shares in broadcaster-source

MILAN Aug 17 (Reuters) - Fininvest, the holding company that controls Mediaset, is not buying shares in Italy's No. 1 commercial broadcaster, a source close to Fininvest said on Friday.

"Fininvest is not buying Mediaset shares," the source said.

Shares in Mediaset rose on Friday as traders cited rumours of interest from Arab investors and short-covering on the stock.

A report in Il Sole 24 Ore also cited a rumour that Fininvest, the holding company of former prime minister Silvio Berlusconi, could be buying shares.

Mediaset was not immediately available for a comment.

Fininvest controls some 40 percent of Mediaset.

(Reporting By Massimo Gaia)