Silvio Berlusconi to pay ex-wife $50 million a year

• Berlusconi retains $100 million home
• Divorce paperwork filed on Christmas Day
• Former prime minister intends to seek 2013 office

Silvio Berlusconi, Italy's former prime minister, has been ordered to pay close to $50 million a year to his ex-wife as part of a divorce settlement, the BBC reported, citing the Corriere della Sera newspaper.

However, Berlusconi, who said recently he intends to again seek office in 2013, has been allowed to retain the $100 million home he once shared with former actress Veronica Lario and their three children, according to the report.

He is said to have offered Lario around $5 million a year, while she asked for $56 million a year.

Corriere della Sera said the divorce paperwork was filed on Christmas Day.

Berlusconi was Italy's prime minister three times, and the nation's long-serving prime minister in the post-war period.

He was last in office in 2011.

He has been the subject of various allegations and investigations to do with his sex life and financial dealings for some time.

Berlusconi, who is 76, currently has a partner nearly 50 years his junior.