CVC eyes Vivendi’s stake in Telecom Italia for potential buyout, Bloomberg reports

CVC Capital Partners (WA:CPAP ) Plc is considering acquiring Vivendi (OTC:VIVHY ) SE's share in Telecom Italia (BIT:TLIT ) SpA, which could lead to a potential takeover of the largest telecom operator in Italy, Bloomberg reported on Monday.

The private equity firm is in early-stage discussions to purchase Vivendi's 24% interest in the Italian company's common shares, a stake valued at around €950 million ($996 million), Bloomberg reported, citing people with knowledge of the matter.

If CVC successfully acquires the stake, it would become the largest shareholder of Telecom (BCBA:TECO2m ) Italia, Bloomberg reported.

The report also added that the equity firm might also look into a complete takeover and consider restructuring the company, which includes a core wireless operation in Italy, an enterprise services division, and a publicly traded Brazilian subsidiary valued at approximately $6.1 billion.

Other potential buyers may also show interest in Vivendi's holding in Telecom Italia, according to the report.

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Source: Investing.com