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Vivendi Telecom Italia's largest shareholder

Staff writer |
Vivendi received 1.11 billion ordinary shares (or 8.24%) of Telecom Italia in exchange for 4.5% of the share capital of Telefonica Brasil.

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This is in accordance with the option given to it as part of the sale of GVT to Telefonica, which closed on May 28, 2015.

Separately, the Group increased its ordinary shares in Telecom Italia from 1.90% recently purchased, with an additional stake of 4.76% purchased on June 22, up to 6.66% [1], representing a global cash payment of approximately €1 billion.

Vivendi now owns 14.9% of Telecom Italia’s ordinary shares and has thus replaced Telefonica as the company’s largest shareholder.

Vivendi’s capital investment in a major Italian company fits into the strategy developed by the Group, which gains a foothold in a country with which it shares the same Latin culture and roots.

This investment represents an opportunity for the Group to be present and to expand in a market with significant growth prospects and a very strong appetite for quality content.

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