Vivendi Cuts Telecom Italia Stake, Starting Long-Planned Exit
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France’s Vivendi SE cut its stake in Telecom Italia SpA, marking the beginning of a long-planned exit.
The French conglomerate, controlled by the billionaire Bolloré family, reduced its holding of Telecom Italia ordinary shares to about 18%, according to a late statement Friday. It previously held 24% as of Sept. 30, according to the Italian carrier’s website.