|Bid||2.9560 x 0|
|Ask||2.9620 x 0|
|Day's range||2.8680 - 2.9720|
|52-week range||1.4350 - 3.0180|
|Beta (5Y monthly)||1.24|
|PE ratio (TTM)||19.35|
|Forward dividend & yield||N/A (N/A)|
|1y target est||3.06|
MILAN (Reuters) -Italy's top commercial broadcaster Mediaset, controlled by the family of former Prime Minister Silvio Berlusconi, will press on with European expansion plans after agreeing a split with its second largest investor Vivendi. Led by French billionaire Vincent Bollore, Vivendi had managed to block Mediaset's pan-European strategy after the two companies in 2016 fell out over a collapsed pay-TV deal and locked horns in a protracted legal battle. The accord signed on Monday paves the way for Vivendi to reduce its 28.8% stake over five years.
Mediaset rallied on Tuesday after it agreed a consensual break-up with its second-largest investor Vivendi , putting an end to years of legal sparring and enabling the Italy's top commercial broadcaster to pursue its expansion abroad. Mediaset shares jumped almost 6%, to levels last reached in September 2019, and were up 3% by 0811 GMT. Controlled by billionaires Silvio Berlusconi and Vincent Bollore, respectively, Mediaset and Vivendi have been at odds since 2016, when the French media giant built a 29% stake in the Milan-listed group following a collapsed pay-TV deal.
Mediaset and its second-largest investor, Vivendi, on Monday ended years of legal sparring with an accord under which the French group will drastically cut its stake in the Italian broadcaster. A collapsed pay-TV deal back in 2016 plunged the two media companies into a bitter war waged in courts across Europe, blocking Mediaset's plans to expand overseas to fend off rising competition in the industry from streaming services like Netflix Inc. The accord commits Mediaset to paying an extraordinary dividend of 0.30 euro a share in July, while ensuring Vivendi's backing for the pan-European strategy pursued by the group controlled by the family of former Italian Prime Minister Silvio Berlusconi.