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Italy's Mediaset CEO says time for deal with Telecom Italia is passed

Published 05/07/2018, 11:42
Updated 05/07/2018, 11:50
© Reuters. FILE PHOTO: Mediaset's Chief Executive Pier Silvio Berlusconi looks on after media conference at the headquarter in Cologno Monzese, near Milan

© Reuters. FILE PHOTO: Mediaset's Chief Executive Pier Silvio Berlusconi looks on after media conference at the headquarter in Cologno Monzese, near Milan

MILAN (Reuters) - The time for an agreement between Italian private broadcaster Mediaset (MI:MS) and Telecom Italia (TIM) (MI:TLIT) is passed, Chief Executive Pier Silvio Berlusconi said.

Last week the Milan-based TV group announced it was working on creating a pan-European broadcaster after signing a content sharing deal with Sky (L:SKYB) and a deal TIM to give the phone group's customers access to its free-to-air channels.

But Berlusconi said that interest toward TIM was "financial sci-fi", in comments made to reporters in Monte Carlo and confirmed by a spokesman.

The group, controlled by the family of former Prime Minister Silvio Berlusconi, has been re-thinking its model after the sale of its Premium pay-TV unit to France's Vivendi (PA:VIV) failed in 2016.

© Reuters. FILE PHOTO: Mediaset's Chief Executive Pier Silvio Berlusconi looks on after media conference at the headquarter in Cologno Monzese, near Milan

The missed deal hit the finances of the group, which returned to profit in 2017. Berlusconi said a return to dividend on 2018 results could be "possible".

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