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Business & Finance

Vivendi does not see CDP's entry in Telecom Italia as hostile

Published April 5, 2018 Updated April 5, 2018 03:36pm
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By Shoaib Ur RehmanReuters
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MILAN: Telecom Italia's (TIM) top shareholder Vivendi does not see a potential entry by Italian state lender CDP into the Italian phone company as a hostile move, a source close to the matter said on Thursday.

The French media group, which has built a stake of 24 percent in TIM, welcomes any shareholder as long as they add value to the company, the person added.

Other sources said earlier that CDP was set to buy a stake of up to 5 percent in TIM in a move intended to safeguard Rome's interest in a company seen as strategic.

 

Copyright Reuters, 2018

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