Niel increases TIM stake to over 15%

2 Nov 2015

Following on from the news last week that French telecoms investor Xavier Niel had become the second largest shareholder in Italian fixed line and mobile operator TIM (formerly Telecom Italia) after paying around EUR1.7 billion (USD1.9 billion) for voting rights equivalent to an 11.2% stake, it has now been confirmed that he has upped his voting interest to 15.14%. The stake is held through call option contracts and other positions, Reuters reports.

The Italian government has said that it is monitoring developments at the telco, which it says is ‘strategic for the development of Italy’s telecommunications system’, while markets watchdog Consob has revealed that it is looking into the possibility of collusion between Niel and TIM’s largest shareholder, French media firm Vivendi. Vivendi has denied that there is any joint strategy between the two parties.

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