Vivendi CEO pleased with constructive talks on Italy’s TIM

The head of French media group Vivendi said on Friday he was grateful to the Italian government for creating conditions for constructive talks on the future of Italian phone group Telecom Italia as a deadline nears.

The negotiations aim to find a shared solution that meets government goals and satisfies all stakeholders in the interest of the country, Vivendi CEO Arnaud de Puyfontaine said in a statement. Vivendi is TIM’s top shareholder.

“Arnaud de Puyfontaine believes that this climate could pave the way for considering other investments in Italy that would seal the partnership between Italy and France,” the statement added.

The Italian government is working with state lender Cassa Depositi e Prestiti (CDP) and international funds on options for debt-laden Telecom Italia’s network grid and is aiming to sketch out a plan by the end of the year.

A further round of talks involving the government, Vivendi and CDP, which also has a stake in TIM, are expected to take place next week.

Prime Minister Giorgia Meloni’s administration is trying to secure control of TIM’s landline grid, an asset deemed of strategic importance, to create a wholesale-only player that would boost broadband roll-out and speed for Italians. Reuters