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TI.A - Telecom Italia SpA News Story

$5.21 0.0  0.0%

Last Trade - 05/07/19

Sector
Telecoms
Size
Large Cap
Market Cap £9.80bn
Enterprise Value £33.02bn
Revenue £13.69bn
Position in Universe th / 6850

UPDATE 1-Italy economy minister spoke to Vivendi CEO over draft media law - source

Fri 20th November, 2020 10:49am
(Adds Gualtieri quote, details and background)
    By Giuseppe Fonte
    ROME, Nov 20 (Reuters) - Italy's Economy Minister Roberto
Gualtieri spoke by telephone on Monday with Vivendi  VIV.PA  CEO
Arnaud de Puyfontaine over a draft law potentially curbing the
French media group's business in the Italian market, a source
close to the matter told Reuters.
    Rome has drafted a law, under discussion in parliament, that
would require Italy's communications watchdog to investigate for
up to six months companies operating -- both directly or through
other entities - in the country's telecoms and media sectors.
    Vivendi, controlled by billionaire Vincent Bollore, holds a
24% stake in Italy's former phone monopoly Telecom Italia
 TLIT.MI  and 29% of its top commercial broadcaster Mediaset
 MS.MI .
    The source said Gualtieri had told de Puyfontaine the draft
legislation was a temporary measure ahead of new media
regulation, adding the call was "friendly and constructive".
    Vivendi declined to comment.
    Vivendi  VIV.PA  told Italy last week it was ready to lodge
a formal complaint with the European Commission over the bill, a
letter seen by Reuters showed.  urn:newsml:reuters.com:*:nL8N2I23YT
    Gualtieri said in a television interview on Friday he had
asked for clarification following the letter, without giving
further details.

 (Reporting by Giuseppe Fonte, editing by Giselda
Vagnoni/Stephen Jewkes/Jane Merriman)
 ((giuseppe.fonte@thomsonreuters.com; +390680307711;))
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