Vivendi denies TIM stake sale
January 20, 2017
Vivendi has denied reports that it is willing to sell its 24 per cent stake in Telecom Italia (TIM) to facilitate its plan to form a European media conglomerate that would include Italy’s Mediaset.
Selling TIM, valued at just over €3 billion, would ease Italian regulators’ concerns over the French media company’s influence in the country, according to Bloomberg.
Responding to the story, a Vivendi spokesman said it wasn’t in the company’s plans to sell its Telecom Italia stake and that it intends to remain a shareholder in the Italian operator.