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Share in Mediaset jump after Vivendi says will lift stake
December 20, 2016 / 8:28 AM / 10 months ago

Share in Mediaset jump after Vivendi says will lift stake

MILAN (Reuters) - Shares in Mediaset (MS.MI) shot up more than 10 percent at open on Tuesday, and were immediately suspended from trading, after French media group Vivendi (VIV.PA) said it would raise its holding in the Italian broadcaster close to 30 percent.

The Mediaset tower is seen in Cologno Monzese neighbourhood Milan, Italy, in this April 7, 2016 file photo. REUTERS/Stefano Rellandini/File Photo

Vivendi unveiled a week ago a 3 percent stake in Mediaset and within days boosted it to 20 percent, becoming the group’s second biggest investor after the family of former Prime Minister Silvio Berlusconi.

The move has angered Italy’s government and fuelled an ongoing spat between the two groups over a failed pay-TV deal.

Reporting by Valentina Za, Editing by Stephen Jewkes

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