MILAN (Reuters) – CVC Capital Partners has sounded out Italian government officials over its plans to buy Vivendi’s stake in Telecom Italia (TIM), two sources familiar with the matter told Reuters.
CVC needs to win Rome’s backing because the government has the powers to vet any investment handing the buyer a stake in TIM higher than 3%.
The sources said CVC representatives held talks with the Italian government officials over a potential deal, which would see CVC becoming TIM’s largest investor with a 24% stake, followed by Italian state lender CDP.
The private equity fund has not secured Rome’s support at this stage but discussions are ongoing, according to the people, who cautioned a deal may not materialise.
CVC and the Italian prime minister’s office declined to comment. Italy’s Treasury was not immediately available to comment. Vivendi did not immediately respond to a Reuters request for comment.
(Reporting by Elvira Pollina, additional reporting by Giuseppe Fonte, editing by Gavin Jones)
