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Darrois Villey Maillot Brochier advises Vivendi on the acquisition of 14.9% of Telecom Italia

Darrois Villey Maillot Brochier advised Vivendi on the acquisition of a stake of 14.9% in Telecom Italia, the leading fixed and mobile telecommunications operator in Italy, for an amount of approximately €2.3 billion.

Vivendi received 1.11 billion ordinary shares (or 8.24%) of Telecom Italia, in exchange for 4.5% of the share capital of Telefonica Brasil, in accordance with the option given to it as part of the sale of GVT to Telefonica, which closed on May 28, 2015.

Separately, Vivendi increased its holding of ordinary shares in Telecom Italia from 1.90% recently purchased, with an additional purchased stake of 4,76%, up to 6.66%, representing a global cash payment of approximately €1 billion.

 Vivendi now owns 14.9% of Telecom Italia’s ordinary shares and has thus replaced Telefonica as the company’s largest shareholder.

 The DVMB team included Marcus Billam, Jean-Baptiste de Martigny and Ioana Nicolas.

 Dominique Bompoint and Louis-François Guéret of Cabinet Bompoint also advised Vivendi on this transaction.