Vivendi's Telecom Italia stake up above 24% again

Wednesday 7 December 2016 | 09:07 CET | News
The controlling stake in Telecom Italia held by Vivendi increased to 24.19 percent on 05 December compared to 23.15 percent on 23 November, said the French media conglomerate in a statement. Vivendi moved to raise its stake following the dilution of its previously held 24.68 percent of Telecom Italia’s capital to below 22 percent after Telecom Italia announced the conversion of a EUR 1.3 billion guaranteed subordinated mandatory convertible bond into 1.7 billion newly-issued ordinary shares. CEO Arnaud de Puyfontaine recently confirmed at the presentation of Vivendi’s third-quarter results that the group intended to be a long-term investor in Telecom Italia.

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