By Najat Kantouar
Vivendi agreed to sell Telecom Italia shares for a total consideration of 684 million euros ($740.6 million) to Poste Italiane.
France's Vivendi, an investment company steered by the Bollore family, said late Saturday that the deal represents 15% of TIM's--as Telecom Italia is known--ordinary shares and voting rights at a price of 0.30 euros a share.
Following the completion of the transaction, Vivendi will keep a minority interest representing 2.51% of ordinary shares and voting rights of the Italian telecom company, and 1.80% of its share capital.
Vivendi cut its stake below the 20% threshold of TIM's ordinary shares and voting rights on March 18 and has carried out further sales since then.
At the close of trading on March 25, it held 17.51% of the ordinary shares and voting rights of TIM and 12.56% of its share capital.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
March 31, 2025 01:17 ET (05:17 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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