JP Morgan/Mediaset Broadcast interruption

Most big investment banks have taken a bath in Europe’s equity capital markets over the past two years. Citigroup had a nightmare selling some Infineon shares; Morgan Stanley slipped up on a TeliaSonera deal; and Goldman Sachs would rather forget its Telenor trade. Now JPMorgan, which long appeared unscathed, may have joined the club. The bank got itself into a pickle last week selling E2.1bn of Mediaset shares on behalf of the broadcaster’s owner, Fininvest. This is the holding company controll...