Vivendi raises stake in Telecom Italia to 23.8%

Vivendi raises stake in Telecom Italia to 23.8%

Vivendi has raised its stake in Telecom Italia to 23.8%, according to a regulatory filing.

The move brings Vivendi’s stake to just under 25% before it has to launch a mandatory offer for Telecom Italia. It acquired an additional 135 million ordinary shares between February 22 and 29.

The company had increased its stake to 22.8% following the purchase of 190.2 million shares a few days prior to that. It has been Telecom Italia’s largest shareholder since June 2015 and has been gradually increasing its stake since.

Vivendi has been rumoured to be interested in acquiring Italian broadcaster Mediaset. Last October, Vivendi said that it is looking to focus its activities in southern Europe. 

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