However there were two obstacles to Vivendi’s believed aim of achieving full control. First, it owns 29% of Silvio Berlusconi’s media company, Mediaset. The Italian regulator Agcom has told Vivendi to decide between Telecom Italia and Mediaset by mid-June, with a further year to implement whatever it decides.
Second, Telecom Italia owned 70% of Persidera, a media services company. A decision to sell that stake received the Commission’s approval yesterday.
The Commission said: “In order to address the competition concerns identified by the Commission, Vivendi committed to divest Telecom Italia’s stake in Persidera.” Reuters quotes analysts saying Persidera is worth €138 million.
Neither Telecom Italia nor Vivendi are commenting, but by mid-June, when Agcom’s deadline expires, the future of Italy’s telecoms incumbent should become clearer.