Vivendi says is long-term investor in Telecom Italia amid KKR takeover talk

Vivendi accelerates Lagardere purchase, extending media empire
Vivendi accelerates Lagardere purchase, extending media empire   -   Copyright  Thomson Reuters 2021   -  
By Reuters

<div> <p><span class="caps">ROME</span> – French media group Vivendi said on Sunday it was a long-standing top investor in Telecom Italia (<span class="caps">TIM</span>) and wants to ensure its long-term success, as the board of the Italian group prepared to meet to discuss a takeover proposal by U.S. fund <span class="caps">KKR</span>.</p> <p>“Vivendi is a long-term investor in Telecom Italia and has been since the beginning,” a company spokesperson said ahead of an official statement to be released shortly.</p> <p>The spokesperson added that Vivendi “strongly denies having had discussions with any Funds, and more specifically with (private equity firm) <span class="caps">CVC</span>,” and wants to work alongside Italian authorities to ensure <span class="caps">TIM</span>’s long-term success.</p> <p/> </div>