Vivendi Holds 19.9% of Telecom Italia
October 06 2015 - 2:31AM
Business Wire
Regulatory News:
Vivendi (Paris:VIV) announces that it now owns 19.9% of Telecom
Italia’s ordinary shares.
The Group became the Italian telecoms operator’s largest
shareholder on June 24, 2015 with 14.9% of its ordinary shares.
This participation results from a share exchange as part of its
exit from the Brazilian telecoms operator GVT for the equivalent of
8.24% of Telecom Italia’s ordinary shares, and from the purchase of
shares on the market for 6.66%.
Vivendi has acquired an additional stake through an acquisition
of shares on the market and now owns 19.9% of Telecom Italia’s
ordinary shares.
The total acquisition price in the consolidated accounts is
3.054 billion euros, i.e. around 1.14 euro per ordinary share.1
This new investment confirms Vivendi’s intention to support the
telecoms group over the long term and to develop its activities in
southern Europe.
About Vivendi
Vivendi is an integrated media and content group. The company
operates businesses throughout the media value chain, from talent
discovery to the creation, production and distribution of content.
The main subsidiaries of Vivendi comprise Canal+ Group and
Universal Music Group. Canal+ is the leading pay-TV operator in
France, and also serves markets in Africa, Poland and Vietnam.
Canal+ operations include Studiocanal, a leading European player in
production, sales and distribution of film and TV series. Universal
Music Group is the world leader in recorded music, music publishing
and merchandising, with more than 50 labels covering all genres. A
separate division, Vivendi Village, brings together Vivendi
Ticketing (ticketing in the UK, France and the U.S.), MyBestPro
(experts counseling), Watchever (subscription video-on-demand) and
the Paris-based concert venue L’Olympia. With 3 billion videos
viewed each month, Dailymotion is one of the biggest aggregation
and distribution platforms in the world. www.vivendi.com,
www.cultureswithvivendi.com
1 The value of the Telecom Italia ordinary shares on August 27,
2014, the day before Vivendi announced that it entered exclusive
negotiations with Telefonica for the sale of GVT, was at 0.86 euro
per ordinary share, which represents a gain exceeding 200 million
euros compared to the current Telecom Italia share price for the
shares that were exchanged (8.24%).
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