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STOCKS NEWS EUROPE-Mediaset rises on interest in pay-TV assets

Reuters - UK Focus

Shares in Italian broadcaster Mediaset (Other OTC: MDIUY - news) rise more than 6 percent to touch near two-month highs on reports of growing interest for its pay-TV business and upbeat news on the Spanish advertising market.

"The strong positive reaction of shares after the group announced (last month) it was ready to separate its pay TV business is justified," broker ICBPI says in a note, adding, however, the current price seems "generous".

Shares in Mediaset have risen around 25 percent since Dec. 18 when Mediaset (Frankfurt: MDS.F - news) said it could merge its pay-TV operations in core Italian and Spanish markets, paving the way for the sale of a stake in the new company.

A report in Italian newspaper MF on Thursday says there is a series of parties interested in the pay-TV assets, including U.S. funds. The paper also says the Spanish TV advertising market rose 16 percent in December.

Mediaset, controlled by former prime minister Silvio Berlusconi, has broadcasting assets in Spain.

Reuters messaging rm://claudia.cristoferi.thomsonreuters.com@reuters.net