Mediaset's share price shed 7.9% in early trading on the Milan stock exchange on Thursday, taking it down to 3.30 euros, a day after French group Vivendi announced that its stake in the broadcaster had risen to 20%.
Trading in Mediaset was suspended twice on Thursday due to excessive volatility.
Mediaset's founder, ex-premier Silvio Berlusconi, said his family will defend itself from a "hostile" operation by Vincent Bolloré's group and was raising its stake in the company. Industry Minister Carlo Calenda said Wednesday the government will "carefully monitor" the Mediaset-Vivendi situation, adding that what appears to be a hostile takeover is "not the most appropriate way to reinforce one's presence in Italy".
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