December 23, 2016 / 1:11 PM / 7 months ago

Vivendi CEO says stake in Mediaset makes pay TV deal even more desirable

1 Min Read

Vivendi's Chief Executive Arnaud de Puyfontaine leaves the headquarters of Italian financial markets regulator Consob in Rome, Italy, December 23, 2016.Remo Casilli

ROME (Reuters) - Vivendi has "all the more reason" to find an accord with Italy's Mediaset (MS.MI) over a collapsed pay-TV deal now that it has become the second biggest investor in the broadcaster, the head of the French media group said on Friday.

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Vivendi has built a stake of 29 percent in Mediaset in the span of two weeks after walking away in July from a deal that would have given it control of Mediaset's loss-making pay-TV unit and handed the two companies a 3.5 percent stake in each other.

"I always said we wanted to try to reach an accord and now that we are the group's second biggest shareholder there is all the more reason to find a deal," Vivendi CEO Arnaud de Puyfontaine said as he left the offices of Italian market regulator Consob after being brought in for a hearing.

Reporting by Alberto Sisto, writing by Valentina Za

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