French media conglomerate Vivendi is not planning to sell its 21% shareholding in Telecom Italia to compatriot Orange or to Iliad founder Xavier Niel, Vivendi CEO Arnaud de Puyfontaine has told the Italian Senate.
French media conglomerate Vivendi (EPA:VIV) is not planning to sell its 21% shareholding in Telecom Italia (BIT:TIT) to compatriot Orange (EPA:ORA), Vivendi CEO Arnaud de Puyfontaine said today.
In a speech to the Italian Senate, he was cited saying that his company was focused on long-term strategy at the perennial target. Orange CEO Stéphane Richard has spoken multiple times about possible future interest in acquiring the Italian company.
“We are industrial and long-term investors,” he was cited saying, adding that Vivendi planned to work alongside Telecom Italia’s other shareholders and the Italian government.
He also added that Vivendi is not working in concert with Iliad founder Xavier Niel, which last year acquired options to buy a 15% stake in the Italian telco.
Finally, on the subject of Italy’s €12bn national high-speed broadband plan, de Puyfontaine said his company was open to working with energy group Enel and Milan-based dark fibre provider Metroweb.