Vivendi could pay up to EUR 1.4bn to increase stake in Telecom Italia to 14.9%
Listed French media group Vivendi is expected to announce the increase of its 8.3% stake in listed group Telecom Italia to 14.9% this week, the French daily Les Echos reported. The report cited a source familiar with the matter as saying that Vivendi could pay up to EUR 1.4bn to get its hands on the 14.9% shareholding and have two representatives sitting at the board of Telecom Italia.
According to the report, the deal would not only help find synergies between Vivendi, a content provider, and Telecom Italia, but could also bring Vivendi expectations of a huge capital gain in the future.
Les Echos