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Mediaset up 5 percent on report of Vivendi mulling 1 billion euros offer to settle pay - TV dispute

Reuters
FILE PHOTO - The Mediaset tower is seen in Cologno Monzese neighbourhood Milan, Italy, in this April 7, 2016 file photo. REUTERS/Stefano Rellandini/File Photo

MILAN (Reuters) - Shares in Mediaset (MS.MI) rose more than 5 percent on Tuesday after a Bloomberg report said French media group Vivendi (VIV.PA) was considering making a cash and stock offer to settle its pay-TV dispute with the Italian broadcaster.

Bloomberg said in a source-based report that Vivendi was considering giving Mediaset a compensation package that may be valued around 1 billion euros (893.62 million pounds).

The report also added that Mediaset's Premium pay-TV unit could become part of a joint venture that is 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.

Mediaset shares were up 3 percent by 1455 GMT, while Telecom Italia stock was down 1.3 percent.

(Reporting by Valentina Za, writing by Agnieszka Flak)