Mediaset shares rise to 20-month high after peace deal with Vivendi By Reuters

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© Reuters. FILE PHOTO: The Mediaset tower is seen in Milan

MILAN (Reuters) – Shares in Mediaset (OTC:) rise more than 5% on Tuesday after the Italian broadcaster and its second-largest investor, French media group Vivendi (OTC:), signed a long-awaited agreement on Monday to end years of legal sparring.

A collapsed pay-TV deal back in 2016 plunged the two media companies into a bitter war waged in courts across Europe, blocking Mediaset’s plans to expand overseas to fend off rising competition in the industry from streaming services like Netflix Inc (NASDAQ:).

By 0708 GMT, Mediaset shares were up 5.6%, rising to levels last reached in September 2019.

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