Vivendi has increased its stake in Telecom Italia to 19.9 percent by snapping up shares worth over €3 billion.

The media company became the Italy-based operator’s largest shareholder during the summer.

France-based Vivendi acquired 14.9 percent of Telecom Italia in June as part of the deal that saw it sell Brazilian broadband provider GVT to Telefónica.

The company said it had paid around €1.14 for each new share.

A statement read: “This new investment confirms Vivendi’s intention to support the telecoms group over the long term and to develop its activities in southern Europe.”

Vivendi has exited the telecoms businesses it owned – notably SFR in France – in the past few years to focus on its media activities.

In June, it said it saw “significant growth prospects and a very strong appetite for quality content” in Italy.

Telecom Italia saw group revenues fall 4.3 percent in the first six months on the year.

Sales in Italy were down over two percent, but in Brazil the decline was 10 percent.

[Read more: Three Italia and Wind to merge in €21.8 billion deal]

Last month, the operator announced it was cutting 3,000 jobs over the next three years in a bid to reduce costs.

The company has yet to make a statement on Vivendi’s increased stake.

Daniela Biscarini, Head of Multimedia Entertainment at Telecom Italia, is speaking at European Communications’ OTT/Digital Content Strategy seminar on 8 October. Click here to register

More News

Iliad enters content game in France, finally launches Italian mobile business Iliad enters content game in France, finally launches Italian mobile business Iliad has acquired football rights in France and launched its opco in Italy as it looks to reboot after a disappointing set of financial results. More detail
Three UK appoints new CCO, CFO Three UK appoints new CCO, CFO The departure of Three UK's Chief Commercial Officer after just 18 months in the job has triggered a shake-up of the mobile operator's top team. More detail
TalkTalk to sell enterprise customer base to Daisy as it registers full-year loss TalkTalk to sell enterprise customer base to Daisy as it registers full-year loss TalkTalk has agreed to sell 80,000 business customers to rival Daisy Group in a £175 million deal. More detail
A1 Telekom Austria Group rebrand reaches Bulgaria A1 Telekom Austria Group rebrand reaches Bulgaria Bulgaria is the third A1 Telekom Austria Group opco to get rebranded as the telco looks to market itself as a provider of "advanced" IT, IoT, cloud and content services. More detail
Orange Business Services puts IoT to use on saving ships’ fuel costs Orange Business Services puts IoT to use on saving ships’ fuel costs Orange Business Services has expanded its work with Dobroflot by developing a customised IoT solution for the Russian fishing company. More detail
    

 

European Communications is now
Mobile Europe and European Communications

  

From June 2018, European Communications magazine 
has merged with its sister title Mobile Europe, into 
Mobile Europe and European Communications.

No more new content is being published on this site - 

for the latest news and features, please go to:
www.mobileeurope.co.uk 

 

@eurocomms