Mediaset SpA can consider a tie-up with its majority shareholder Vivendi SA but not with Telecom Italia SpA, Total Tele reported Jan. 19.

Company CEO Pier Silvio Berlusconi said that "if there are opportunities and will" from Vivendi, it is willing to get into a deal "that creates value and growth for Mediaset," the report said, citing La Stampa.

Vivendi has made no proposal to Mediaset, only a "vague reference" of a potential deal that would involve Telecom Italia, according to Berlusconi, Reuters reported the same day, also citing the Italian newspaper.

Vivendi earlier raised its stake in Mediaset to 28.80% of the the company's share capital after a series of stake boost, forcing Italian regulator AGCOM to look into the French company's move. Vivendi originally agreed to purchase Mediaset's pay-TV business Mediaset Premium as part of a stake swap deal, which eventually fell apart.