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Vivendi is open to discuss with Rome over state control on TIM’s network By Reuters


© Reuters. FILE PHOTO: Telecom Italia’s new emblem for the TIM model is seen on a constructing in Rome, Italy, April 9 2016. REUTERS/Alessandro Bianchi/File Photo

MILAN (Reuters) – Telecom Italia (MI:)’s (TIM) prime shareholder Vivendi (OTC:) is open to discussing the likelihood that the Italian authorities wins control of TIM’s fixed-line network, a spokesperson for the French firm stated on Sunday.

The assertion marks a shift within the stance of the French media group as TIM’s traders prepare to consider a ten.8 billion euro ($12.2 billion) takeover plan introduced by U.S. fund KKR for TIM.

Until now the French group has dragged its toes on the likelihood that Rome good points control over TIM’s fastened network.

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A spokesperson for the French media group instructed Reuters that Vivendi was fascinated with any resolution that “promoted the effectivity and modernity of the network, whereas preserving the worth of its funding”.

“In this angle, the speculation of a state control of the network, if it may lead to an institutionally guided strategic challenge, will definitely be evaluated with openness,” the spokesperson added.

TIM’s fastened line enterprise gives Italy’s predominant telecoms infrastructure and performs a significant position in broadband rollout efforts on which Rome plans to spend billions of euros of European Union funds to enhance protection.

State investor CDP has taken a ten% stake in TIM to oversee the network and is anticipated to play a key position in any plans to carve out the grid.

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($1 = 0.8839 euros)

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