Vivendi Acquires Additional Stake In Telecom Italia - Quick Facts

(RTTNews) - Vivendi (VIV.L, VIVEF.PK) announced the company now owns 19.9% of Telecom Italia's (TIAOF.PK, TI) ordinary shares. The company said the new investment confirms its intention to support the telecoms group over the long term and to develop its activities in southern Europe.

The Group became the Italian telecoms operator's largest shareholder on June 24, 2015 with 14.9% of its ordinary shares. Vivendi has acquired an additional stake through an acquisition of shares on the market. Vivendi said the total acquisition price in the consolidated accounts is 3.054 billion euros, or around 1.14 euros per ordinary share.