Milan

Mediaset shares dive after Berlusconi convicted for fraud

Company's stock loses 3.11%

Mediaset shares dive after Berlusconi convicted for fraud

Milan, October 26 - Shares in Mediaset, the company controlled by ex-premier Silvio Berlusconi, dropped sharply on Milan's stock market Friday following news that the media mogul was convicted of fraud by a Milan court. Shares registered a loss of 3.11%, dipping to 1.33 euros, at the sounding of the closing bell. Berlusconi was found guilty of tax fraud in the trading of film rights for TV broadcasts by his Mediaset media empire, sentenced to five years in prison and banned from public office for three years.

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