“We want to build strong subjects at European level that they can become world players. It is a strategic question: there is a possibility with our position to create a Southern European subject with a solid base and which can compete on equal terms with the great American players". She said it Arnaud de Puyfontaine, CEO of Vivendiduring a Senate hearing. The French group is the leading shareholder of Telecom Italia, of which it has recently come to hold 21,4%.
“We are long-term investors – continued the manager -, we want develop a strategic industrial plan, we do not act on behalf of third parties”. The CEO then underlined that “with Iliad e Xavier Niel there is an agreement for the distribution of Canal Plus through well-defined operations. Point. We have never discussed Iliad's participation in Telecom Italia and the potential for a common policy, jointly with Telecom. There is no joint policy, does not exist".
De Puyfontaine then gave the Netflix example: “Think about where it was 5 years ago and where it is today. It is in the top platforms, provides access to worldwide audiences, invests heavily in content production and becomes a competitor of Vivendi. Our move with Telecom Italia must be seen in the context of this strategy in which we believe. From the point of view of the cultural industry and the media, there are good opportunities to collaborate with Italy and with Telecom Italia. We feel very close to Italy”.
In the future, therefore, Telecom "has the potential to think about its own strategy and to think about the future and more services - added the CEO - we do not see the level of debt as a disadvantage for the ability to finance investments".
