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General

Vivendi's Telecom Italia stake below 22% after conversion

Monday 14 November 2016 | 15:33 CET | News
The controlling stake in Telecom Italia held by French media conglomerate Vivendi will fall from 24.6 percent to just under 22 percent when the Italian operator's proceeds with the mandatory conversion of a bond due this year, reports news agency Ansa. Telecom Italia will convert a EUR 1.3 billion guaranteed subordinated mandatory convertible bond into 1.7 billion newly-issued ordinary shares on 15 November. The French media giant remains the operator's largest shareholder and its CEO Arnaud de Puyfontaine confirmed last week that the group intended to be a long-term investor in Telecom

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