Vivendi Increases Stake In Telecom Italia to 15% to Become Largest Shareholder

Vivendi Increases Stake In Telecom Italia to 15% to Become Largest Shareholder Image Credit: Vivendi

French media giant, Vivendi is making inroads into the European telecoms market, taking 1.11 billion ordinary shares (or 8.24%) of Telecom Italia, the leading fixed and mobile telecommunications operator in Italy, in exchange for 4.5% of the share capital of Telefonica Brasil.

Separately, the Group increased its ordinary shares in Telecom Italia from 1.90% purchased recently, with an additional stake of 4.76% purchased on June 22, to bring its total share to up to 6.66% , representing a global cash payment of approximately €1 billion. Vivendi therefore now owns 14.9% of Telecom Italia’s ordinary shares and has thus replaces Telefonica as the company’s largest shareholder. 

In a statement Vivendi said it intended to support Telecom Italia in the long term and the investment represents an opportunity for the Group to be present and to expand in a market with significant growth prospects and a very strong appetite for quality content.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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