Berlusconi Raises $431 Million With Mediaset Stake Sale
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Silvio Berlusconi raised 377 million euros ($431 million) from the sale of a 7.8 percent stake in his broadcaster Mediaset SpA as the former Italian Prime Minister seeks to strengthen the finances of the family’s investment company.
Berlusconi’s Fininvest SpA reduced its holding in Mediaset to 33.4 percent after selling 92 million shares Thursday at 4.10 euros apiece on the market. Fininvest, which isn’t publicly traded, said the funds will bolster its capital and may lead to “investments aimed at portfolio diversification.”