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BRIEF-Telecom Italia approves joint-venture with Vivendi's Canal+
October 20, 2017 / 4:30 PM / a month ago

BRIEF-Telecom Italia approves joint-venture with Vivendi's Canal+

Oct 20 (Reuters) - Telecom Italia (TIM) says:

* Board approves binding term-sheet for joint-venture with Vivendi’s pay-TV arm Canal+

* TIM to have 60 percent of joint-venture and three out of five board members

* JV CEO to be picked among TIM-appointed board members

* Shares government concerns over security issues after examining government’s “golden power” decisions

* Wants to engage in discussions with government “with spirit of full collaboration” over security issues relating to TIM Sparkle and Telsy units

* Reserves, however, the right to evaluate impact of government’s requests with aim to protect company’s interests Source text for Eikon: Further company coverage: (Reporting by Milan newsroom)

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