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General

Vivendi increases Telecom Italia stake to 22.8%

Monday 22 February 2016 | 09:45 CET | News
Telecom Italia's leading shareholder Vivendi has increased its stake in the Italian operator to 22.8 percent, according to an SEC filing dated 19 February. Vivendi acquired shares equivalent to 1.4 percent of Telecom Italia's ordinary capital through market and off-market transactions carried out between 16 and 19 February. Separately, Italian daily Il Giornale reported that Vivendi has asked Telecom Italia CEO Marco Patuano to find another EUR 1 billion in savings by 2018 by squeezing operating costs as well as general and administrative expenses.

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Categories: General
Companies: Telecom Italia / Vivendi
Countries: Italy
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