Telecom Italia and Vivendi chiefs reportedly meeting today

Vincent Bolloré

Telecom Italia executive director Marco Patuano is set to meet Vivendi chairman Vincent Bolloré today to discuss the future of the latter’s Brazilian telecom unit GVT, according to a report in Italian financial daily Il Sole 24 Ore.

Telecom Italia has reportedly initiated talks with Vivendi following Telefónica’s move to acquire GVT, with Patuano and Bolloré already reported to have held discussions about the matter.

Telefónica has offered to buy Vivendi’s Brazilian telecom unit GVT for BRL20.1 billion (€6.7 billion), comprising 60% cash and 40% in shares in Telefónica Brasil’s Vivo. Telefónica has also offered to give Vivendi the right to acquire 8.1% of Telecom Italia, in which Telefónica is the biggest single investor with a 14.8% stake, after the GVT deal is closed.