© 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.
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.