TI Telecom Italia S.P.A. New

By Inti Landauro

PARIS--French media group Vivendi SA (VIV.FR) Tuesday said it has built up its stake in Telecom Italia SpA (TI), in which it is the largest shareholder since June, to 19.9%.

The French group first took an 8.24% stake in the Italian telecom firm as part of the sale of Brazilian firm GVT to Spain's Telefonica SA in June. Vivendi then bought 6.66% in Telecom Italia on the market in September and now has bought an additional 5%.

The French group said it intends to remain a shareholder in Telecom Italia in the long term and expects to develop its activities in southern Europe.

After spending two years selling telecom assets from Morocco to Brazil and France, Vivendi, under the helm of Chairman Vincent Bolloré, has recently invested part of the proceeds raised into the same industry in Italy.

Write to Inti Landauro at inti.landauro@wsj.com

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(END) Dow Jones Newswires

October 06, 2015 03:00 ET (07:00 GMT)

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