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Vivendi ready to discuss with Rome about state control on the network of TIM

MILAN (Reuters) – Telecom Italia (TIM) top shareholder Vivendi is open to discussing the possibility of the Italian government taking control of TIM’s fixed network, a French company spokesman said on Sunday.

The announcement marks a change of opinion of the French media group as TIM’s investors are ready to evaluate the 10.8 billion euro ($12.2 billion) takeover plan presented by the US fund KKR. presented to TIM.

So far, the French group still does not believe in Rome’s ability to gain control of TIM’s fixed network.

A spokesman for the French media group told Reuters that Vivendi was interested in any solution that “promotes the efficiency and modernity of the network, while preserving the value of its investment”.

“In view of this, the hypothesis of state control over the network, if it could lead to an institutionally oriented strategic project, would certainly be openly evaluated.” the spokesman added.

TIM’s fixed-line business provides Italy’s main telecommunications infrastructure and plays a key role in broadband deployment efforts, in which Rome plans to spend billions of euros in Union funds. European Union to improve coverage.

State investor CDP has taken a 10% stake in TIM to oversee the network and is expected to play a key role in any grid development plans.

(1 dollar = 0.8839 euros)

(Reporting by Elvira Pollina and Francesca Landini; writing by Francesca Landini; editing by David Evans)

https://whbl.com/2021/12/05/vivendi-is-open-to-discuss-with-rome-over-state-control-on-tims-network/ Vivendi ready to discuss with Rome about state control on the network of TIM

JACLYN DIAZ

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