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Vivendi will not agree sale of TIM’s network if true value not recognised


© Reuters. FILE PHOTO – A Vivendi sign was seen at Paris’s company headquarters on April 8, 2015. REUTERS/Gonzalo Fuentes/File Photo

ROME (Reuters). Vivendi(OTC:) does not support the selling of Telecom Italia (BIT)’s fixed network (TIM) should not be recognized. The Chief Executive of French Group, TIM’s biggest investor, stated that he was ready to evaluate other possibilities.

“I would like to make it clear about the topic of the network’s value. Vivendi won’t support selling the network for (analysts estimate value between 17-21 Billion Euros ($40.70 Billillion)), and that this would be in the best interests of TIM,” Arnaud De Pufontaine stated to daily la Repubblica during an interview.

He said that TIM’s real value would not be recognized, as we are a long-term investor in the industrial sector, and that we will evaluate alternative opportunities.

($1 = 0.9337 euros)