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Telecom Italia is target of any possible fine by Italy over Vivendi control - sources

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Telecom Italia is target of any possible fine by Italy over Vivendi control - sources

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ROME/MILAN (Reuters) – The process Italy has launched and which could lead to a fine for failure to notify the government of Vivendi <VIV.PA> assuming de facto control of Telecom Italia <TLIT.MI> is against the Italian phone group, government sources said. It was previously assumed that any fine that could emerge from the investigation would fall on French media group Vivendi and not Telecom Italia (TIM). Vivendi, TIM’s top shareholder with a 24 percent stake, has repeatedly denied controlling Italy’s biggest phone group. Vivendi declined to comment. A Telecom Italia source said the company reiterated its position that there was no need for any notification because it had never made any changes regarding control of the company and its network.

(Reporting by Francesca Piscioneri, Agnieszka Flak and Stefano Rebaudo)
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