Top Telecom Italia investor Vivendi appeals ruling in grid sale case, sources say
Telecom Italia's (TIM) top investor Vivendi has appealed against a court decision that threw out an earlier attempt by the French group to fight the sale of the phone group's landline network, two sources told Reuters. Vivendi, which holds a 24% voting stake in TIM, turned to a Milan court in December 2023 to challenge the TIM board's decision to sell the grid, saying it should have been put to a shareholder vote. The sale, worth up to 22 billion euros ($23.1 billion), was finalised in July 2024 with backing from Italy's government, leading to strained relations between TIM and its single biggest investor.