CVC sounds out Italy over plans to buy Telecom Italia stake, sources say
Published by Global Banking and Finance Review
Posted on February 7, 2025
1 min readLast updated: January 26, 2026

Published by Global Banking and Finance Review
Posted on February 7, 2025
1 min readLast updated: January 26, 2026

CVC Capital Partners is negotiating to buy Vivendi's stake in Telecom Italia, requiring Italian government approval for a 24% stake acquisition.
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)
CVC Capital Partners is exploring the possibility of acquiring Vivendi's stake in Telecom Italia.
CVC needs Rome's support because the government has the authority to vet any investment that would give the buyer more than a 3% stake in Telecom Italia.
If the deal goes through, CVC could become the largest investor in Telecom Italia with a 24% stake.
No, discussions are ongoing, but CVC has not yet secured the Italian government's support.
CVC and the Italian prime minister's office have declined to comment, while Italy's Treasury was not immediately available for comment.
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