Vivendi eyes up to 20 percent of Mediaset as part of southern Europe expansion

PARIS (Reuters) - France's Vivendi said on Monday it could buy as much as 20 percent of Mediaset after purchasing just over 3 percent of the Italian broadcaster's capital as part of efforts to expand into southern Europe.

"Vivendi announces that it has gone over the 3 percent threshold in Mediaset's capital and now holds 3.01 percent," the company said in a statement, adding that it was consistent with its strategy to expand into southern Europe.

It said it planned to continue buying into the firm to become its second largest shareholder if possible which could meaning acquiring between 10 to 20 percent of the Italian firm.

 

(Reporting by John Irish; editing by David Clarke)