Vivendi on Friday announced that it has once again upped its stake in Telecom Italia, albeit by a very small amount.
The French media firm issued a statement confirming that it now holds 20.03% of the Italian incumbent.
Earlier this month it owned 19.9%.
It did not disclose the price it paid for the additional shares.
"The group reiterates its intention to be a long term shareholder of the Italian telecoms group and, more generally, to develop Vivendi’s activities in Southern Europe," Vivendi said, repeating earlier similar commitments to Telecom Italia.
Vivendi became Telecom Italia’s biggest shareholder in June, with a 14.9% stake, and noted then that the Italian telco forms part of its long-term strategy, despite previous indications that it was looking to exit the telecoms market altogether. In the past couple of years it has sold out of Maroc Telecom, SFR and GVT.
It was the sale of Brazilian broadband operator GVT to Telefonica that gave Vivendi its position at Telecom Italia.
The Spanish firm was previously Telecom Italia’s largest shareholder and included shares in the Italian telco as part of the Brazil deal.
