Milan

Mediaset shares drop 2.6% after Berlusconi verdict

But losses reduced after 4% fall at opening of trading

Mediaset shares drop 2.6% after Berlusconi verdict

Milan, August 2 - Mediaset's share price registered significant losses in early trading on Friday after ex-premier Silvio Berlusconi's four-year jail term for tax fraud at the company was upheld by the supreme court on Thursday. Mediaset's stock lost 4% at the opening of trading but picked up to reduce the loss to 2.61%, with a price of 3.28 euros, after around an hour and a half of business. The share price was also affected by half-year accounts that saw profits fall to 30 million euros. The Milan stock exchange as a whole fell 0.48% in early trading. The fact that it did not register bigger losses could be a sign that investors do not expect the imminent collapse of Premier Enrico Letta's left-right government after Thursday's ruling.

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