(Finance) – March 18, Vivendi It dropped under the threshold of 20% of the ordinary shares and voting rights of Timcoming to hold 19.32% of the ordinary shares and voting rights of the TLC group (13.87% of its entire share capital). The French company, the first shareholder of the telecommunication group, announces it with a note.
In accordance with the legislation, Vivendi today has notified to Consob the exceeding of the threshold that derives from the sales of shares on the market.
Following further sales made after March 18, Vivendi, at the end of today’s negotiations, owns 18.37% of the ordinary shares and TIM voting rights and 13.19% of its entire share capital.
Vivendi, explains in the note, that he has “ceased to account for his participation in TIM with the shareholders’ method starting from 31 December 2022 and has indicated his intention to sell his participation in TIM on favorable financial conditions on several occasions”.