Vivendi will not agree sale of TIM’s network if true value not recognised – paper
2022.06.01 10:00
FILE PHOTO: A Vivendi sign is seen at the company’s headquarters in Paris, France, April 8, 2015. REUTERS/Gonzalo Fuentes/File Photo
ROME (Reuters) – Vivendi (OTC:VIVHY) would not support the sale of Telecom Italia (BIT:TLIT)’s (TIM) fixed network should its true value not be recognised, and would be ready to assess other opportunities the Chief Executive of the French group, TIM’s top investor, said on Wednesday.
“I want to be clear on the subject of the value of the network. Vivendi will never support the sale of the network at (analysts’ estimated value of between 17-21 billion euros ($40.70 billion)) and this is in the best interest of TIM,” Arnaud de Pufontaine told daily la Repubblica in an interview.
He added “if the real value (of TIM’s network) will not be recognised, given we are a long-term industrial investor, we are ready to evaluate other opportunities.”
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