Telecommunications companies were more or less flat as traders hedged their bets on the sector ahead of earnings season. French media firm Vivendi agreed to acquire the pay-TV business of Italy's Mediaset SpA, moving to snap up more assets to create a European rival to U.S. streaming-video giant Netflix and pay-TV giant Sky PLC. Telefonica SA board members have approved the appointment of Jose Maria Alvarez-Pallete as chairman and chief executive, the telecommunications giant said. Friday.(rob.curran@dowjones.com)

(END) Dow Jones Newswires

April 08, 2016 17:00 ET (21:00 GMT)