Another French move for Italian telco TIM

30 Oct 2015

The French telecoms investor Xavier Niel has become the second largest shareholder in Italian fixed line and mobile operator TIM (formerly Telecom Italia) after paying EUR1.7 billion (USD1.9 billion) for voting rights equivalent to an 11.2% stake. Niel, who is the founder of French telco Iliad, has joined another French firm as a major investor in TIM, with media group Vivendi recently confirming that it had upped its own stake in the Italian operator to over 20%.

According to a report from Bloomberg, the Italian market regulator Consob is now investigating the possibility that Vivendi and Niel could be working together, though an unnamed source at Vivendi has said that this is not the case and the two French companies are not collaborating to take over at TIM. Under Italian law, any shareholder holding more than 25% of the capital of a company with a market capitalisation of more than EUR500 million and revenue above EUR300 million has to make a mandatory offer to buy the stakes held by minority investors.

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