Lawyers for Silvio Berlusconi's Fininvest holding company confirmed long- rumoured reports that a consortium led by Prince al-Waleed, the Saudi billionaire, was negotiating to buy a 35 per cent stake in Mr Berlusconi's three television stations in Italy. Partners in the consortium include Time Warner and Leo Kirch, the German media investor. Talks are also being held between Fininvest and News Corp, the international media company controlled by Rupert Murdoch. Mr Berlusconi is under pressure to reduce his empire in the light of three referendums on media control scheduled for later this month.
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Berlusconi in talks on TV stations