October 10, 2017 / 5:04 PM / 9 months ago

Vivendi offers compensation to settle dispute with Mediaset: sources

MILAN/PARIS (Reuters) - French media group Vivendi (VIV.PA) has offered to pay compensation to Mediaset (MS.MI) to settle a dispute with the Italian broadcaster over a soured pay-TV deal, three sources close to the matter said on Tuesday.

FILE PHOTO: The Vivendi logo at the company's headquarters in Paris, France, March 10, 2016. REUTERS/Charles Platiau/File Photo

One of the sources said Vivendi would pay a first tranche of 250 million euros ($295 million) as part of a wider tentative agreement. The person said more money would be paid at a later stage, but did not quantify the amounts.

One of the other two sources said Mediaset could join a joint venture being set up between Vivendi’s own pay-TV arm Canal+ and Italian phone group Telecom Italia (TLIT.MI).

Vivendi is the biggest shareholder in Telecom Italia with a 24 percent stake.

This source said it was too early to say whether the two sides would eventually reach a compromise.

Mediaset, Vivendi and Telecom Italia declined to comment.

($1 = 0.8474 euros)

Reporting Gwenaelle Barzic in Paris, Sophie Sassard in London, writing by Agnieszka Flak; editing by Silvia Aloisi

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