MILAN Mediaset's (MS.MI) top shareholder, Finivest, said on Tuesday it had bought 27.6 million shares in the Italian broadcaster and had rights to buy 14 million more on Wednesday to reach 39.775 percent of the group's voting capital.
French tycoon Vincent Bollore raised the stakes in a battle with Silvio Berlusconi's Mediaset on Monday by saying the French media company Vivendi (VIV.PA), which he chairs, could buy up to a fifth of the Italian broadcaster, stirring talk of a hostile takeover bid.
Vivendi said on Tuesday it had raised its Mediaset stake to 12.3 percent. Bollore is Vivendi's biggest shareholder.
(Reporting by Francesca Landini; Editing by Kevin Liffey)