Tim, Vivendi opens a majority of the state in the network

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Vivendi opens to the majority of the state in the Tim network. “We certainly aim to put Tim back on a growth trajectory. The ongoing evaluations focus on this objective. Vivendi is interested in any solution that promotes the efficiency and infrastructural modernity of the network, while preserving the value of its investment. In this perspective – declares a spokesman for the French group – the hypothesis of state control of the network, if it were preparatory to an institutional-led strategic project, will certainly be evaluated with openness “.

Vivendi “has already represented its firm intention to be a reliable, long-term shareholder, a harbinger of a constructive dialogue aimed at strengthening Tim, with the aim of working alongside Italian institutions in the interest of all shareholders and others Tim’s stakeholder »reiterates a spokesperson for Vivendi.

“The priority of all Tim’s stakeholders is to go back to seeing the company at the center of development and innovation strategies and protagonist, with its best resources, on the telecommunications market”. “It is a question of combining the necessary technological innovation paths for the country with the enhancement of resources and the relaunch of one of the most important Italian groups” he concludes.

Vivendi’s stance comes in the midst of the dynamics linked to Kkr’s bid for control of Tim: Vivendi had recently expressed negative views on the American fund’s bid, judging it to be insufficient.

According to reports from the Bloomberg agency (citing Il Messaggero), Vivendi is working with Cassa Depositi e Prestiti on a plan to revive the fortunes of Telecom Italia that is not based on Kkr. The leaders of the two companies met recently and are expected to meet again soon to develop their common strategy.
Cassa Depositi is the second shareholder of the telephone operator with 9.8%, after Vivendi with 24%, according to Bloomberg data.

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Tim Vivendi opens majority state network

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