Telecom Italia Stake Gives Vivendi Southern Focus, CEO Says
- Vivendi supports Telecom Italia's broadband strategy
- Companies discussed Tim Brasil, but Vivendi has no "firm view"
Vivendi SA’s investment in Telecom Italia SpA is the French company’s first step in building a media group with a distinct focus in southern Europe, according to its chief executive officer, who doesn’t rule out further boosting its stake in Italy’s largest telecommunications provider.
The owner of broadcaster Canal Plus and Universal Music Group fully supports Telecom Italia’s management and its strategy, including the rollout of an ultra-fast broadband network that could help Vivendi distribute content, Arnaud De Puyfontaine said in an interview with Bloomberg Television in Cernobbio, Italy. While the companies have held discussions about Brazil, Vivendi doesn’t have a "firm view" on the future of Telecom Italia’s local unit Tim Participacoes SA, he said.