- Lawyers for Vivendi (VIVHY +0.4%) and Italy's Mediaset (OTCPK:MDIUY) are engaged in admittedly tough discussions for a way out of the two companies' legal dispute, Reuters reports.
- That might include extending a planned joint venture between Telecom Italia (TI +0.1%) and Vivendi's Canal Plus to include Mediaset.
- The seeds of the long-running spat were planted when Vivendi backed out of a deal to buy Mediaset's pay TV unit last year.
- Vivendi was set to take over 100% of Mediaset Premium, but last summer said it wanted 20% of the money-losing operation instead.
- Following the reversal on the pay TV unit deal, Vivendi moved last last year to rapidly assemble a stake in Mediaset, raising objections from the Italian government similar to those around Vivendi's large stake in Telecom Italia.