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Vivendi eyes larger slice of Telecom Italia

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Vivendi eyes larger slice of Telecom Italia

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French media group Vivendi has revealed it wants to increase its stake in Telecom Italia.

It’s on track to become the largest shareholder in Italy’s biggest phone firm once it receives an 8.3 percent payout for selling Brazilian broadband group GVT to Spanish carrier Telefonica.

Vivendi reportedly wants to raise its stake to 10-15 percent, as Telefonica and three Italian financial institutions dissolve the investment vehicle through which they controlled Telecom Italia since 2007.

France’s Orange and Germany’s Deutsche Telekom have also expressed interest in buying Telecom Italia whose shares rose sharply on Wednesday.