Vivendi He is preparing his retreat from TIM, but without tears: the exit is calibrated, in several phases, as it is moreover is practice with all types of financial movements that require a lot of caution. To report this indiscretion was the first The newspaper, According to which the Parisian group, owner of almost a quarter of the company’s shares, would be thinking of disassembling his participation piece by piece. The indiscretion was then confirmed around 20 of March 21, 2025.
To preside over the entrance would be there Italian post officeready to go up the china from its current 10%, with the intention of touching the symbolic threshold of 25% while remaining just below the opa threshold. Meanwhile, the CVC fund also moves, with the air of those who have not yet closed the game. Everything is played before the assembly of June 24, where the armchairs count but the votes count more.
Vivendi sells 5% of TIM
It is news of the last hours that the company led by Arnaud de Puyfontaine has resized its presence in the former Italian single -cylinder monopolist of telephone networks. According to what officially communicated, a transfer of over 5% of the company’s capital has been completed.
The share package held by the French conglomerate passes like this from 23.75% to a share equal to 18.37%. On March 18, a reduction under the 20% threshold of possession of shares with voting rights had already emerged, reaching 19.32%. Now, the descent has further consolidated.
Poste Italiane interested in the purchase of TIM
Italian post officethanks to a 5.6 billion liquidity between cash and credit lines, it evaluates the purchase of a further 14%, aiming at 24% of the capital. A position that would guarantee decision -making weight without passing the border that obliges Opa. The package would come in part by Vivendi, with which the dialogue is still open. The negotiations, which would be conducted with discretion, aim to avoid a useless arm arm and to build a tactical coexistence until the assembly.
Vivendi Smonta, CVC observes
CVC’s interest remains alive. The London fund it may detect 10% of the shares put on sale by Vivendi. If you pull back, that part would temporarily remain in the hands of the French, waiting for better times. Alternatively, it is not excluded that the TIM group itself can evaluate its acquisition. Everything, however, remains in the exploratory phase.
Labriola and the unstable climate
The position of the CEO Pietro Labriola It is complicated. Vivendi, who had supported him, changed to course After the sale of the fixed network. The dispute opened by the French group was rejected by the Court of Milan, but the appeal is on site. If Vivendi really leaves the scene, Labriola’s position could find stability. But as long as it remains even with one foot inside, the unknowns remain.
Vivendi could oppose the approval of the budget and other initiatives on the agenda, such as the conversion of savings actions or the grouping of capital. However, with a reduced quota, its blocking capacity fades. It is in this space that it is placed in place, ready to rebalance the weights in the Council and to encourage industrial relaunch initiatives.
A public control direction
The governmentthrough Poste, leads the orchestra. The June assembly was postponed to grant the time necessary for a negotiating solution. Vivendi’s progressive exit would be a breath of air for governance and could open the way for market consolidation. The PosteMobile network, now linked to Vodafonecould migrate to Tim, but other industrial synergies are only glimpsed later.
The real knot remains cheap: Vivendi paid the shares for 1.08 euros, Today are worth less than 30 cents. A 2.5 billion loss that the French try to stem even with palace maneuvers. More than a financial question, it has now become a matter of pride.
