Vivendi has made an offer for a majority stake in Mediaset’s pay-TV business.

Citing Corriere della Sera, which does not name any sources, Reuters reports that the bid was lodged several days ago.

It adds that any deal to buy into Mediaset Premium would be funded in cash and shares.

However, the likelihood of it happening quickly has receded due to disagreements over the price.

Reuters points out that earlier this month the broker Nataxis identified Mediaset as one of the main targets in Europe at present and suggested that Vivendi could make an offer for the company based on a premium of 25%.

Vivendi already has significant investments in Italy and recently became the majority shareholder in Telecom Italia.

It is now focusing mostly on pay-TV, along with music and content, and has a potential investment fund of €6.4 billion.