A report that Vivendi would be prepared to sell its 24% stake in Telecom Italia has been denied by the French media giant.
Bloomberg reported Thursday that Vivendi would agree to a sale of its €3.03 billion holding to ease Italian regulatory concerns over its growing influence in the country.
The newswire, citing people familiar with the matter, said letting of Telecom Italia would allow it to proceed with its plan to build a European media powerhouse that would include Italy’s Mediaset.
In April Vivendi and Mediaset announced an ‘industrial partnership’ that later collapsed amid acrimony and is yet to find an amicable solution outside of the courts.
Vivendi says its presence in the Mediaset equity is in line with the Group’s intention to develop its activities in Southern Europe and its strategic ambitions as a major international, European-based, media and content group.
