Vivendi increases TIM stake to over 20%

French media group Vivendi has upped its stake in TIM (formerly Telecom Italia) from 19.90% to 20.03%. At the same time, the French firm has also reiterated its ‘intention to be a long term shareholder of the Italian telecoms group and, more generally, to develop Vivendi’s activities in Southern Europe’. Vivendi inherited an 8.3% interest in TIM earlier this year as part of a deal with Telefonica of Spain, and has since increased its stake through a number of share purchases.