Market Overview

Vivendi Confirms Raising Telecom Italia Stake to 19.9%

Share:
Related VIVHY
Does Take-Two's Latest Acquisition Mark The End Of M&A In Mobile Gaming?
6 Amazing Leonard Cohen Covers You Need To Hear
Related TI
Mid-Morning Market Update: Markets Open Higher; VeriFone Posts Q2 Loss
Mid-Morning Market Update: Markets Open Higher; NVIDIA Beats Q4 Views

Vivendi (OTC: VIVHY) announces that it now owns 19.9% of Telecom Italia's (NYSE: TI) ordinary shares.

The Group became the Italian telecoms operator's largest shareholder on June 24, 2015 with 14.9% of its ordinary shares. This participation results from a share exchange as part of its exit from the Brazilian telecoms operator GVT for the equivalent of 8.24% of Telecom Italia's ordinary shares, and from the purchase of shares on the market for 6.66%.

Vivendi has acquired an additional stake through an acquisition of shares on the market and now owns 19.9% of Telecom Italia's ordinary shares.

The total acquisition price in the consolidated accounts is 3.054 billion euros, i.e. around 1.14 euro per ordinary share.(1)

This new investment confirms Vivendi's intention to support the telecoms group over the long term and to develop its activities in southern Europe.

Posted-In: News Rumors Insider Trades Press Releases

 

Related Articles (TI + VIVHY)

View Comments and Join the Discussion!
Loading...
Loading...