Regulator: Vivendi must declare today on control of Telecom Italia

Published 08/07/2017, 10:54 AM
© Reuters.  Regulator: Vivendi must declare today on control of Telecom Italia
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  • Following a look from Italy's market regulator Consob, Vivendi (PA:VIV) (VIVHY -0.9%) will have to declare today whether it controls Telecom Italia (MI:TLIT) (TI +0.8%).
  • Vivendi is the top shareholder and is considered by many to be in de facto control, but the technical matter of declaration turns on whether Vivendi is forced to consolidate a heavy debt pile into its accounts and give Rome standing to step into affairs as a matter of national interest.
  • TI's board has acknowledged that Vivendi is "directing and coordinating" actions; "control" is a (maybe only slightly different) matter.
  • Now read: Gogo 2017 Q2 - Results - Earnings Call Slides


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