Vivendi wins conditional EU okay to gain control of Telecom Italia

Reuters News
Posted: May 30, 2017 9:04 AM

BRUSSELS (Reuters) - French media group Vivendi won EU antitrust approval on Tuesday for its plan to gain control of Telecom Italia after pledging to sell the telecoms operator's majority stake in broadcasting services group Persidera.

The asset sale offer came after the European Commission voiced concerns that Vivendi might hike prices charged to TV channels for wholesale access to digital terrestrial television networks following the Telecom Italia deal.

"In order to address the competition concerns identified by the Commission, Vivendi committed to divest Telecom Italia's stake in Persidera," the EU competition enforcer said.

The EU green light has no relevance to Italian communications regulator AGCOM's order to Vivendi to cut its stake in either Telecom Italia or broadcaster Mediaset.

(Reporting by Foo Yun Chee; editing by Philip Blenkinsop)