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Vivendi's Bollore sticks to Italy despite investment setbacks

Published 06/01/2018, 03:35 PM
© Reuters.  Vivendi's Bollore sticks to Italy despite investment setbacks
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  • Despite a heavy setback in Vivendi (PA:VIV)'s (VIVHY +0.5%) move to control a number of Italian media/telecom investments, billionaire Vincent Bollore (BOIVF +1.6%) says the company will keep its investments in the country.
  • The French media giant built stakes in Telecom Italia (MI:TLIT) (TI +1.6%) and Mediaset (MDIUY +1.7%), but recently lost control of the TI board amid an activist push by Elliott Management.
  • "Italy is not a done deal yet," Bollore said at today's annual shareholder meeting. "It's a deal that will eventually bear fruit ... I continue to believe that what is going on there is interesting."
  • As for Elliott's move on Telecom Italia: "For the moment, I'm not impressed by what they're doing ... As long as they're not dismantling, we'll leave things be."
  • Previously: Telecom Italia confirms Genish as CEO; Vivendi signals support (May. 07 2018)
  • Previously: Elliott gains control of Telecom Italia (May. 04 2018)
  • Now read: Firstgroup PLC ADR 2018 Q4 - Results - Earnings Call Slides


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