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Mediaset shares fall six percent after Vivendi raises stake to 20 percent
December 15, 2016 / 8:23 AM / 9 months ago

Mediaset shares fall six percent after Vivendi raises stake to 20 percent

The Mediaset tower is seen at the headquarter in Cologno Monzese, near Milan, Italy, April 8, 2016. REUTERS/Stefano Rellandini

MILAN (Reuters) - Shares in Italy’s Mediaset (MS.MI) fell more than 6 percent on Thursday after France’s Vivendi (VIV.PA) raised its stake in the private broadcaster to 20 percent, prompting a warning from the Italian government.

The French media group had said on Monday it intended to buy up to a fifth of the Milan-based TV group, whose controlling shareholder is former Italian prime minister Silvio Berlusconi, in a move branded as hostile.

Berlusconi said that his family, which holds 39.8 percent of Mediaset’s voting rights through investment vehicle Fininvest, would continue increasing its shareholding and would fight any Vivendi move intended to loosen their grip on the broadcaster.

Reporting by Giulia Segreti; editing by Agnieszka Flak

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