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Vivendi investments in Italy are long-term -CEO to paper
January 13, 2017 / 7:21 AM / a year ago

Vivendi investments in Italy are long-term -CEO to paper

MILAN, Jan 13 (Reuters) - Vivendi is not a corporate raider and has invested in Telecom Italia and Mediaset for the long term as industrial partner, its CEO Arnaud de Puyfontaine told La Repubblica newspaper on Friday.

The French group is the leading shareholder in Telecom Italia and has recently accumulated more than a quarter of Mediaset’s shares, drawing criticism from the Italian government.

“We are in Italy to realise an ambitious long-term project,” de Puyfontaine said in a letter to the Italian newspaper.

The Vivendi CEO said that despite difficulty finding common ground with Mediaset the group had never given up on its plans to build a big south European media and telecoms group.

Reporting by Stephen Jewkes; Editing by David Goodman

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