4/05/2021 1:39:55 PM | Source: Reuters
Mediaset shares rise to 20-month high after peace deal with Vivendi
MILAN - Shares in Mediaset rise more than 5% on Tuesday after the Italian broadcaster and its second-largest investor, French media group Vivendi, 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.
By 0708 GMT, Mediaset shares were up 5.6%, rising to levels last reached in September 2019.
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