Vivendi ups TIM stake to 15.5%

10 Sep 2015

French media and communications group Vivendi has increased its stake in the Italian operator TIM (formerly Telecom Italia) from 14.9% to 15.5%, according to the country’s stock market regulator Consob. Bloomberg reports that Vivendi’s interest in the Italian telco is now valued at EUR3.3 billion (USD3.7 billion). Vivendi’s Chief Executive Officer Arnaud De Puyfontaine told Bloomberg that his firm has not ruled out increasing its stake in TIM even further as it looks to strengthen its position in the southern European media segment.