November 28, 2019 / 4:59 PM / 14 days ago

Mediaset's board to discuss possible deal with Vivendi on Friday: sources

FILE PHOTO: The Mediaset tower is seen at the headquarter in Cologno Monzese, near Milan, Italy, April 8, 2016. REUTERS/Stefano Rellandini/File Photo

MILAN (Reuters) - The board of Italian broadcaster Mediaset (MS.MI) will meet on Friday to discuss a possible deal with the group’s second biggest shareholder, France’s Vivendi (VIV.PA), two sources close to the matter said on Thursday.

A deal would end a three-year long legal stand-off and allow Mediaset to press ahead with plans to create a pan-European TV champion through the merger of its Italian and Spanish units into a Dutch holding company called MediaForEurope (MFE).

Earlier, sources said the two sides were close to reaching an agreement that would see the French group sell a 20% stake in the Italian company to the MFE holding.

Vivendi, led by billionaire Vincent Bollore, holds an overall stake of 29% in Mediaset, which is controlled by the family of former prime minister Silvio Berlusconi.

Reporting by Elvira Pollina, editing by Silvia Aloisi

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