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French media conglomerate Vivendi and Italian companies Mediaset and Fininvest have agreed to end their dispute, mutually waiving all pending lawsuits and complaints.

German media conglomerate is reportedly looking to sell its controlling stake in French broadcast group and has already approached potential buyers including France’s Vivendi and Altice Europe.

Italy’s top commercial broadcaster said it was open to settling a long-running dispute with its second largest shareholder Vivendi, but any potential deal would have to include compensation.

Mediaset wants to use the new entity to build alliances with some of its partners in Europe. Earlier this year, Vivendi filed a petition that was subsequently rejected and then appealed.

The Milan Civil Court rejected Vivendi's appeal against a sentence issued by the same court last February. Now, to stop the merger between Mediaset Italia and Spain, the French can only resort to Spanish justice.