MILAN, Oct 28 (Reuters) - Talks between Italian broadcaster Mediaset and Al Jazeera and Vivendi to buy a stake in its pay-TV business are slowing down due partly to the high valuation of the asset, sources with knowledge of the matter said.
Telefonica’s 11 percent stake purchase of Mediaset’s pay-TV arm Mediaset Premium in July valued the business at 900 million euros.
“Mediaset is working to find a partner but nothing has been decided yet,” one of the sources said.
A source said Qatar’s Al Jazeera was put off when Telefonica’s acquisition of a stake in Premium raised the price it would have to pay.
For Vivendi, a source said there would not be a deal either in the mid- or short-term given its focus on acquiring a stake in Telecom Italia.
Mediaset Deputy Chairman Pier Silvio Berlusconi said in July the company was in talks with Vivendi, Al Jazeera and others to cooperate in the pay-TV business.
Reporting by Claudia Cristoferi, writing by Oleg Vukmanovic