Telecom Italia is reportedly in talks with Vivendi to pursue an alliance.
Talks have taken place between Telecom Italia Chief Executive Officer Marco Patuano and Vivendi Chairman Vincent Bollore, according to Bloomberg.
The talks are said to have begun before Telefonica, which maintains a sizable stake in Telecom Italia, offered Vivendi €6.7 billion/a> to acquire Brazilian wireline carrier GVT.
A TI/Vivendi tie-up could derail Telefonica’s bid; TI has reportedly discussed offering Vivendi shares in exchange for GVT. But there’s also a possibility Telefonica could offer its TI stake as part of a GVT bid.
Telecom Italia’s proposal also reportedly involves obtaining content distribution rights from Vivendi. The French conglomerate has been busy shedding assets to shore up its balance sheet.
