This post was originally published on this site
https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEFAK1LA_L.jpgMILAN (Reuters) – French media group Vivendi (PA:) is prepared to sell part of its stake in Mediaset (MI:) at a loss in an attempt to reach an accord to end years of bitter legal disputes with the Italian broadcaster, a source close to the matter said on Friday.
The source said that in order “to show its goodwill” Vivendi was prepared to sell the Mediaset shares held by its Simon Fiduciaria trustee at a price of 3.25 euros each.
That compares with a price of 3.7 euros Vivendi paid in 2016 to build its 29% stake which Mediaset considers hostile.
Vivendi, which is also a leading investor in Italy’s former phone monopolist Telecom Italia (MI:), holds a 20% stake in Mediaset through Simon Fiduciaria to comply with a ruling by Italy’s telecoms watchdog.
The source said Vivendi would sell shares held by Simon Fiduciaria.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.