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T.Italia says had no obligation to notify Italian government over ownership
September 29, 2017 / 4:41 PM / 21 days ago

T.Italia says had no obligation to notify Italian government over ownership

MILAN, Sept 29 (Reuters) - Telecom Italia (TIM) said on Friday it had no obligation to notify the Italian government of ownership changes, control or availability of its network, after Rome launched a probe on the phone incumbent.

French media group Vivendi is TIM’s largest shareholder and has held a 24 percent stake in the company since March last year, raising concerns in Italy about its growing influence in the former state monopoly.

Italy has launched a process that could end with TIM being fined for failing to notify Rome that Vivendi had assumed de facto control over it, a source said..

Vivendi has repeatedly denied its share gave it effective control of the company.

“No obligation to give notification is foreseen for transferring control to a European party” said a statement by TIM.

It added that no fine had been imposed by Rome and said it was “certain that it has acted in compliance with the law”. (Reporting by Giulia Segreti)

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