Vivendi ready to discuss state control over TIM’s network with Rome

The Tim logo can be seen at its headquarters in Rome, Italy on November 22, 2021. REUTERS / Yara Nardi

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MILAN, Dec. 5 (Reuters) – Vivendi (VIV.PA), the largest shareholder of Telecom Italia (TIM), is willing to discuss the possibility of the Italian government taking control of TIM’s fixed network, a spokesperson said on Sunday. word of French society.

The statement marks a shift in the French media group’s stance as TIM investors prepare to assess a € 10.8 billion ($ 12.2 billion) repurchase plan presented by US fund KKR (KKR.N) for TIM.

Until now, the French group dragged its feet on the possibility of Rome taking control of TIM’s fixed network.

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A spokesperson for the French press group told Reuters that Vivendi was interested in any solution that “promotes efficiency and modernity of the network, while preserving the value of its investment”.

“In this perspective, the hypothesis of state control of the network, if it could lead to an institutionally guided strategic project, will certainly be evaluated with openness”, added the spokesperson.

TIM’s fixed line business provides Italy’s main telecommunications infrastructure and plays a major role in the broadband deployment efforts where Rome plans to spend billions of euros of European Union funds to improve the cover.

Public investor CDP has taken a 10% stake in TIM to oversee the network and is expected to play a key role in any network slicing project.

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Reporting by Elvira Pollina and Francesca Landini; written by Francesca Landini; edited by David Evans

Our Standards: Thomson Reuters Trust Principles.

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