Vivendi Holds 20% Stake in Telecom Italia
October 23 2015 - 12:51PM
Dow Jones News
By Jason Chow
PARIS--Vivendi SA announced late Friday it now owns a 20% of
Telecom Italia, the latest milestone in the French media company's
growing stake in the Italian company.
Vivendi said it intends to be "a long-term shareholder" in the
company. In June, the company held just 15.9% of Telecom
Italia.
The growing stake is the latest indication of Vivendi Chairman
Vincent Bolloré's strategy, after he took control of the group last
year. While a wave of asset sales in recent years left Vivendi with
a roughly 9 billion euro ($9.9 billion) war chest, Mr. Bolloré has
so far made only relatively small purchases, such as buying French
online-video firm Dailymotion and buying stakes in video game
company Ubisoft Entertainment SA and Gameloft SA.
-Write to Jason Chow at jason.chow@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 23, 2015 12:36 ET (16:36 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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