Vivendi raises stake in Telecom Italia to 19.9%

Vivendi has increased its stake in Telecom Italia to 19.9% in a bid to further expand in southern Europe.

The move follows the French group’s acquisition of a 8.24% stake in the operator as part of the sale of Brazil’s GVT to Spain’s Telefonica in June 2015, making it Telecom Italia’s largest shareholder. It later purchased 6.66% in the company in September 2015.

Vivendi purchased an additional stake through an acquisition of shares on the market and presently owns 19.9% of the operator’s ordinary shares. 

“This new investment confirms Vivendi’s intention to support the telecoms group over the long term and to develop its activities in southern Europe,” said the company. 

Vivendi has sold its stake in SFR, GVTand Maroc Telecom over the last year. 

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