A widening political crisis in Italy is driving investors away from Silvio Berlusconi’s media empire on the Milan stock market as concerns mount over the stability of the prime minister’s centre-right coalition.
An aide to Mr [Gianfranco Fini] told the Financial Times that he would announce he was pulling out of the government when Mr Berlusconi returned from the G20 summit in Seoul at the weekend. Mr Fini’s Future and Liberty party has one minister and three senior officials in the coalition.
Investor concerns about Mr Berlusconi’s connection to Mediaset have long been a cause for volatility in the stock, commonly described in the industry as the “Berlusconi discount”. Mr Berlusconi controls Mediaset with a 40 per cent stake held through his family holding company Fininvest.