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Vivendi notified Italy government about its holding in Telecom Italia: source
September 15, 2017 / 5:11 PM / 2 months ago

Vivendi notified Italy government about its holding in Telecom Italia: source

PARIS (Reuters) - Vivendi (VIV.PA) notified the Italian government on Friday about its holding in Telecom Italia (TLIT.MI) as required by the authorities, a source close to the matter said.

A woman walks walk past the main entrance of the entertainment-to-telecoms conglomerate Vivendi's headquarters in Paris April 8, 2015. REUTERS/Gonzalo Fuentes/File Photo

The French media group has built up a 24 percent stake in Telecom Italia since 2015, becoming its number one shareholder and raising concerns in Italy about its growing influence on the former monopoly.

Under an Italian decree adopted in March 2012, any investor who buys stakes in companies deemed of strategic importance for the country must notify the government within 10 days or face a fine.

“This notification, made voluntarily, which no other investor was compelled to do before, was made in a spirit of collaboration with the Italian government,” the source said.

Reporting by Mathieu Rosemain and Gwenaelle Barzic; Editing by Maya Nikolaeva

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