Deals
CVC Weighs Purchase of Vivendi’s Telecom Italia Stake
- Buyout firm eyes move that could eventually lead to takeover
- French conglomerate Vivendi has been looking to offload stake
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CVC Capital Partners Plc is exploring a potential purchase of Vivendi SE’s stake in Telecom Italia SpA, people with knowledge of the matter said, possibly paving the way for a takeover of Italy’s biggest telecommunications company.
The private equity firm has been holding preliminary talks with Vivendi about buying its 24% holding in the Italian carrier’s common shares, the people said, asking not to be identified because the information is private. The stake is currently valued at about €1 billion ($1.05 billion), according to data compiled by Bloomberg.