Telecom Italia auditors say Vivendi in position to influence board members: chairman

Reuters News
Posted: Mar 28, 2017 10:00 AM

ROME (Reuters) - Telecom Italia <TLIT.MI> auditors have told the company its top investor Vivendi <VIV.MI> is in a position to influence other board members even without de-facto controlling the company, the phone group's chairman Giuseppe Recchi said on Tuesday.

Responding to questions before the Senate, Recchi said the company would detail the discussions that took place between its board and auditors in a statement requested by market watchdog Consob later on Tuesday.

The influence of the French group on Telecom Italia has come into the spotlight after Vivendi also took a significant holding at Italian broadcaster Mediaset <MS.MI>, leading to speculation over whether it plans to combine the two companies.

Italy's communications regulator is now looking into Vivendi's stakebuilding at Mediaset given domestic anti-trust regulations that prevent companies from having an excessive market share both in telecommunications and media.

(Reporting by Alberto Sisto, writing by Agnieszka Flak)