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Italy's Mediaset sells pay-TV unit to Vivendi and agrees share swap

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By Euronews
Italy's Mediaset sells pay-TV unit to Vivendi and agrees share swap

<p>Italian broadcaster Mediaset has agreed to sell its pay-TV unit to French media group Vivendi.</p> <p>The deal also includes a 3.5 percent share swap between the two companies.</p> <p>The agreement will boost Vivendi’s position in Italy as it seeks to take on rivals Sky and Netflix.</p> <p>For three years, Vivendi will be prevented from increasing its stake in Mediaset beyond five percent.</p> <p>Mediaset shares were up earlier this week after reports suggested the group was close to agreeing a share swap with Vivendi.</p>