(Bloomberg) --
Italy's Mediaset SpA and France's Vivendi SE could reach an accord as soon as this weekend to resolve a dispute over a scrapped pay-TV deal, daily la Repubblica reported on Saturday.
The two companies have been fighting since 2016, when the French media conglomerate dropped a plan to buy a Mediaset pay-television unit. Mediaset has sought billions of euros in damages from Vivendi, which is also the largest shareholder of Italy's former phone monopoly, Telecom Italia SpA.
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As part of an agreement to settle the dispute, Vivendi could sell off a stake of more than 19% in Mediaset it controls through Simon Fiduciaria within five years, Repubblica said. Vivendi would at that point effectively control less than 10% of the company.
A Milan court ruled on April 19 that Vivendi didn't have to pay as much as 3 billion euros ($3.6 billion) of damages after the French media conglomerate scrapped the pay-TV deal.
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