Vivendi has said that it now holds 20.03% of Telecom Italia’s ordinary shares.
“The group reiterates its intention to be a long-term shareholder of the Italian telecoms group and, more generally, to develop Vivendi’s activities in Southern Europe,” the company said in a brief statement.
Vivendi became Telecom Italia’s biggest shareholder in June, with a 14.9% stake, subsequently increased its holding to 15.5% in September, and earlier this month, it owned 19.9%.
It was the sale of Brazilian broadband operator GVT to Telefonica last June that gave Vivendi its position at Telecom Italia, when it received 8.24% of shares as part-payment.