Telecom Italia Appoints Vivendi CEO De Puyfontaine as Chairman
June 01 2017 - 1:40PM
Dow Jones News
By Eric Sylvers
Telecom Italia SpA appointed Vivendi SA Chief Executive Arnaud
De Puyfontaine as chairman at a board meeting Thursday as the
French media conglomerate increases its control over the Italian
telecommunications group.
Mr. De Puyfontaine, previously Telecom Italia's deputy chairman,
had been widely expected to be promoted to the top spot once
Vivendi got regulatory approval for its partial takeover of the
Italian company. The greenlight came this week when the European
Union signed off provided Telecom Italia sells its stake in a
broadcasting company, a condition Vivendi accepted.
Giuseppe Recchi, who preceded Mr. De Puyfontaine as Telecom
Italia's chairman, was named deputy chairman.
Vivendi owns 24% of Telecom Italia and recently tightened its
grip on the former Italian telephone monopoly by appointing a
majority of the company's board. Vivendi's slate of board members
includes Mr. De Puyfontaine as well as the French company's chief
financial officer and general counsel.
Write to Eric Sylvers at eric.sylvers@wsj.com
(END) Dow Jones Newswires
June 01, 2017 13:25 ET (17:25 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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