Reuters: Global Markets: Mediaset shares slide after Berlusconi tax fraud ruling

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Mediaset shares slide after Berlusconi tax fraud ruling Aug 2nd 2013, 07:31 Tweet Share this Email Print Related News Berlusconi conviction leaves Italian government hanging 3:53am EDT Italy - Factors to watch on August 2 12:00am EDT UPDATE 4-Italy supreme court upholds Berlusconi jail sentence Thu, Aug 1 2013 CORRECTED-Mediaset says Italian advertising sales rose in July Thu, Aug 1 2013 Mediaset does not see any pay-tv partnership for time being Thu, Aug 1 2013 Analysis & Opinion Italy confronts its fate as Berlusconi meets his Event risk Related Topics Hot Stocks » Asian Markets » Former Italian Prime Minister Silvio Berlusconi leaves the Justice Palace in Milan November 22, 2011. Credit: Reuters/Paolo Bona MILAN | Fri Aug 2, 2013 3:31am EDT MILAN (Reuters) - Italian broadcaster Mediaset shares were down more 4 percent on Friday in early trade after its controlling shareholder former Prime Minister Silvio Berlusconi was convicted of tax fraud. Berlusconi on Friday said he was innocent. "The court's ruling on Silvio Berlusconi has no direct impact on Mediaset, but could be negative if it leads to a new phase of political instability, which could have a negative impact on Italy's economic outlook," said ICBPI analyst Stefano Vulpiani. "In that sense, uncertainty weighing on the company's top line leads us to maintain a negative view on the stock." Shares of the Berlusconi-controlled publisher Mondadori shares were down 2.5 percent in early trade. (Reporting by Jennifer Clark, editing by Stephen Jewkes) Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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