Vivendi says is long-term investor in Telecom Italia amid KKR takeover talk By Reuters

© Reuters. FILE PHOTO: French media giant Vivendi’s logo is pictured at the main entrance of the entertainment-to-telecoms conglomerate headquarters in Paris, France, August 12, 2020. REUTERS/Charles Platiau/File Photo

ROME (Reuters) – French media group Vivendi (OTC:) said on Sunday it was a long-standing top investor in Telecom Italia (MI:) (TIM) and wants to ensure its long-term success, as the board of the Italian group prepared to meet to discuss a takeover proposal by U.S. fund KKR.

“Vivendi is a long-term investor in Telecom Italia and has been since the beginning,” a company spokesperson said ahead of an official statement to be released shortly.

The spokesperson added that Vivendi “strongly denies having had discussions with any Funds, and more specifically with (private equity firm) CVC,” and wants to work alongside Italian authorities to ensure TIM’s long-term success.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply Cancel reply