Vivendi increases its stake in the capital of Telecom Italy. Between 18 and 23 November, the French group purchased a total of 56 million shares of the Italian company (equal to 0,4% of the capital) for a total of 65,5 million euros. The figure emerges from the Stock Exchange 'filing model'.
Vivendi announced on November 17 that it held 16% of Telecom's share capital as of November 20,112.
It will take place today a very high voltage Telecom assembly. On Friday the first shareholder, Vivendi, owner of 20% of the capital, announced that at today's meeting it will not vote in favor of the conversion of savings shares into ordinary shares, thus making it impossible to approve the transaction.
In the meantime, proxy advisers have suggested that the funds vote against Videndi's proposal to ask for four representatives to sit on the board. It is not excluded that there will be a showdown on the board ahead of the April 2017 deadline.
