Vivendi set to take 14.9% stake in Telecom Italia

22 Jun 2015

The French media group Vivendi is expected to announce this week that it is increasing its stake in Telecom Italia (TI) to 14.9%, building upon the 8.3% stake it inherited as part of Telefonica’s buyout of Vivendi’s Brazilian telco business GVT. A report from Reuters cites ‘a source close to the situation’ as saying that the deal should be announced in the next few days and the French firm is likely to get two seats on TI’s board. Although Vivendi has spent the past two years divesting most of its telecoms interests – including SFR of France – Reuters reported last week that the company would seek to gain control of TI as it looks to increase its presence in Italy’s media and content sectors via the country’s largest broadband internet provider.

Italy, Telecom Italia (TIM), Telecom Italia Group (TIM Group), Vivendi