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

Stock Markets2 hours ago (Nov 21, 2021 10:30)

© 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 (PA:VIV) said on Sunday it was a long-standing top investor in Telecom Italia (MI:TLIT) (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.

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

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