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Telecom Italia towers IPO proceeds grow to 875m

2015-07-07 02:00:00| Total Telecom industry news

Italian telco confirms overallotment option fully taken up by underwriters.

Vivendi becomes top Telecom Italia investor with 14.9% stake

2015-06-25 08:38:00| Telecompaper Headlines

(Telecompaper) French media conglomerate Vivendi has confirmed that it has increased its stake in Telecom Italia to 14.9 percent and replaced Telefonica as the Italian operator's largest shareholder. "This 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," said Vivendi, adding that it intends to support Telecom Italia over the long term. The French group said it had received 8.24 percent of Telecom Italia shares from Telefonica as part-payment for the sale of its Brazilian broadband unit GVT, which closed on 28 May. In addition, Vivendi raised its ordinary shares in Telecom Italia from a "recently purchased" 1.9 percent to 6.66 percent on 22 June, representing a global cash payment of around EUR 1 billion.

Tags: top italia investor telecom

Vivendi ups Telecom Italia stake

2015-06-25 02:00:00| Total Telecom industry news

French media group firmly back in telecoms after becoming Italian incumbent's biggest single shareholder.

Tags: italia ups telecom stake

Vivendi to announce imminent Telecom Italia deal - report

2015-06-22 08:32:00| Telecompaper Headlines

(Telecompaper) French media conglomerate Vivendi is expected to announce an imminent deal that will see it increase its stake in Telecom Italia to 14.9 percent and secure two board seats, according to an unnamed source cited by Reuters. The announcement could be made by 23 or 24 June, the source said. Vivendi is keen on consolidating its position as Telecom Italia's largest shareholder beyond the 8.3 percent it will receive from Telefonica as part-payment for its Brazilian broadband unit GVT and last week sources reported that the French company is planning to increase its stake to 10-15 percent. However, a report in Italian business daily Il Sole 24 Ore suggests the Brazilian antitrust watchdog will require Vivendi to first sell a 7.4 percent stake it still holds in Telefonica's Brazilian unit Vivo before it can raise its stake in Telecom Italia.

Tags: report deal italia telecom