Vivendi Sells 15% of TIM to Poste Italiane for €684 Million
Deal News | Apr 02, 2025 | Legal Community Italy
Vivendi has engaged Cleary Gottlieb Steen & Hamilton for legal assistance in its divestment of a substantial equity interest in Telecom Italia (TIM) to Poste Italiane, amounting to €684 million. This strategic move reduces Vivendi's holding in TIM to 2.5%, down from its pre-transaction level. The deal awaits clearance by the Italian Competition Authority, a critical step given the implications for market dynamics and corporate control. The Cleary team representing Vivendi in this transaction includes Giuseppe Scassellati-Sforzolini, Paolo Rainelli, and Gabriele Barbatelli, demonstrating strong expertise in international corporate transactions. This transaction marks a significant shift in ownership structure within the Italian telecommunications sector, underlining Vivendi's ongoing strategy to optimize its investment portfolio.
Sectors
- Telecommunications
- Legal Services
- Investment
Geography
- Italy – The transaction involves Italian companies and is subject to approval by the Italian Competition Authority.
- France – Vivendi is a French multinational media conglomerate involved in this transaction.
Industry
- Telecommunications – The article discusses the sale of shares in Telecom Italia (TIM), a major player in the telecommunications industry.
- Legal Services – Cleary Gottlieb provided legal advisory services to Vivendi, highlighting the role of corporate legal advisors in M&A transactions.
- Investment – Vivendi's share sale is part of its investment strategy to manage its portfolio holdings.
Financials
- €684 million – Total consideration for the sale of 15% of TIM's ordinary shares.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Vivendi | Selling Company | Company | A French multinational media conglomerate selling a stake in TIM. |
| Telecom Italia (TIM) | Target Company | Company | An Italian telecommunications company whose shares are being sold. |
| Poste Italiane | Bidding Company | Company | An Italian postal services company purchasing a stake in TIM. |
| Cleary Gottlieb Steen & Hamilton | Legal Advisor | Company | Provided legal advisory services to Vivendi in the share sale. |
| Giuseppe Scassellati-Sforzolini | Legal Advisor | Person | A member of the Cleary team representing Vivendi. |
| Paolo Rainelli | Legal Advisor | Person | A member of the Cleary team representing Vivendi. |
| Gabriele Barbatelli | Legal Advisor | Person | A member of the Cleary team representing Vivendi. |