ROME — Italian Prime Minister Silvio Berlusconi has told the children of his second wife that they will not be short-changed in a pending multi-million-euro divorce settlement, press reports said Wednesday.

All but the youngest of the billionaire's five children from two marriages lunched with their father on Tuesday at his luxury villa near his native Milan, the northern Italian industrial hub, along with two top business associates, the reports said.

"No one will be short-changed or discriminated against," Berlusconi was quoted as assuring his children at the private lunch by the daily La Repubblica.

"I will be a fair father," he said, according to the daily Il Corriere della Sera. "My children are my life, the most precious thing I have," he reportedly said, adding that there was "absolutely no war" between them.

Berlusconi had two children with his first wife Carla Dall'Oglio -- Marina, 43, and Pier Silvio, 40 -- and another three with Veronica Lario -- Barbara, 25, Eleonora, 23, and Luigi, 21.

Lario filed for divorce last May after revelations that the media tycoon -- noted for his dalliances with other women -- had attended the 18th birthday party of an aspiring model who called him "Daddy."

A first hearing in divorce proceedings took place on January 31.

Lario, 53, is seeking an alimony package of 43 million euros (59 million dollars) per year, press reports said.

Berlusconi, 73, was also quoted as telling his children that it was too soon to begin carving up the fortune.

"We must stay united. This is certainly not the time to go ahead with the sharing out," he reportedly said.

With a fortune estimated at 6.5 billion dollars, Berlusconi is Italy's second richest person and ranks 70th in the world, according to a 2009 list by Forbes magazine.

Fininvest, the holding company of the Berlusconi family, owns the media group Mediaset and its three commercial television channels as well as publishing, banking and insurance interests and the AC Milan football club.

The meeting lasted three hours and included the head of Mediaset, Fedele Confalonieri, and Fininvest Pasquale Cannatelli.

Berlusconi owns 63 percent of Fininvest, and each of his children around seven percent.

Lario reportedly fears that her three children will be given short shrift compared with the older two.

Marina already heads Fininvest and the Mondadori publishing group, while Pier Silvio is vice president of Mediaset.

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