Rome: Italy’s state-run postal service raised its stake in Telecom Italia SpA to almost 25%, overtaking Vivendi SE as the phone carrier’s biggest investor and ending the French media conglomerate’s decade-long tenure at the Italian company.
Poste Italiane, which has owned about 10% of Telecom Italia, purchased an additional holding of 15% from Vivendi for €684mil (US$741mil), or €0.2975 per share, according to a statement last Saturday.
