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Mediaset strikes deal to limit withdrawal rights impact in pan-EU TV deal

Mediaset strikes deal to limit withdrawal rights impact in pan-EU TV deal
FILE PHOTO: The Mediaset tower is seen in Cologno Monzese neighbourhood Milan, Italy, April 7, 2016. REUTERS/Stefano Rellandini -
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Stefano Rellandini(Reuters)
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MILAN (Reuters) – Italian broadcaster Mediaset <MS.MI> said on Thursday it had reached an agreement with Peninsula Holding to limit the impact of the exercise of withdrawal rights in its deal to create a pan-European TV platform (MFE).

In a statement Mediaset said Peninsula Holding would, at the broadcaster’s request, buy up to 355 million shares of the new MFE entity.

(Reporting by Elvira Pollina and Stephen Jewkes)

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