Vivendi seen announcing Telecom Italia deal next week-source
PARIS, June 21 (Reuters) - French media group Vivendi is expected to announce next week it is raising its stake in Telecom Italia to 14.9 percent and will likely get two board seats, according to a source close to the situation.
The announcement could be made by June 23 or June 24, the source said. A Vivendi spokesman declined to comment.
Vivendi is on track to become Telecom Italia's largest shareholder when it receives an 8.3 percent stake as part-payment for selling Brazilian broadband group GVT to Spanish carrier Telefonica.
Citing people familiar with the matter, Reuters reported last week the French group planned to lift its stake to 10-15 percent, as Telefonica and three Italian financial institutions dissolve the investment vehicle through which they controlled Telecom Italia since 2007.
(Reporting by Leila Abboud and Dominique Vidalon; Editing by Tom Heneghan)
© Thomson Reuters 2016 All rights reserved.