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Italy launches process for possible fine of Vivendi over TIM control - source

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Italy launches process for possible fine of Vivendi over TIM control - source

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ROME (Reuters) – Italy on Thursday began a process that could end with a fine of French media group Vivendi <VIV.MI> over its failure to notify Rome that it had de facto control over Telecom Italia <TLIT.MI>, an Italian government source said. Vivendi denies that its 24 percent holding in the Italian phone group has given it effective control on the company. An Italian government panel met on Thursday to conclude its investigation, which began last month, and “launched the process for the possible application of the fine,” the source said, without indicating how much the fine might amount to.

(Reporting by Massimiliano Di Giorgio, writing by Gavin Jones)
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