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Vivendi sells majority of TIM shares

March 31, 2025

By Chris Forrester

French media giant Vivendi has signed an agreement which will see the sale of the majority of its shares in Poste Italiane’s TIM equal to 15 per cent of the company, for €684 million. Vivendi will hold onto a small stake in TIM, of 2.51 per cent of the telco’s ordinary shares which come with voting rights equal to 1.80 per cent of TIM’s share capital.

Vivendi, in a statement made after the markets had closed on March 28th, says it had indicated on several occasions its intention to sell its shareholding in TIM in good financial conditions.

“It has crossed downwards the 20 per cent threshold of TIM’s ordinary shares and voting rights on March 18, 2025, resulting from sales of shares on the market. At the close of trading on March 25, 2025, Vivendi owned 17.51 per cent of the ordinary shares and voting rights of TIM and 12.56 per cent of its share capital,” said Vivendi.

The end result will see Poste Italiane become the largest shareholder in TIM. Poste said it would use available cash to fund the €684 million ($741 million) investment, buying shares in TIM at €0.2975 each.

However, Poste added it would remain below the 25 per cent threshold above which, under Italian law, it would have to make an offer for the rest of TIM. It said it would remain as a long-term shareholder in TIM following the “strategic investment”, looking for potential benefits from cooperation between the two companies and supporting sector consolidation.

Italian State-controlled Poste, whose businesses include energy, payments and phone services as well as mail and parcels, first became an investor in TIM in February 2025 with a 9.8 per cent stake, replacing state lender CDP.

 

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