Tim, Vivendi requests publication of legal opinions on Netco sale approval method

 Reuters. The Tim logo at the company headquarters in Rome. November 22, 2021. REUTERS/Yara Nardi/File Photo

MILAN (Reuters) – Vivendi (EPA:), main shareholder of Telecom Italia (BIT:) (TIM), wrote a letter to the board of directors of the telephone group to request the publication of the legal opinions requested by the former monopolist regarding the method of approving the sale of Netco.

Two sources close to the situation told Reuters. No comments from Vivendi and Tim.

According to some press rumors, the legal opinions, which will be discussed by today’s Board of Directors of the former monopolist, would support the possibility of proceeding with the sale of the network with a resolution of the board, while Vivendi, which holds a 24% share in Tim and has expressed serious reservations about the operation, he believes that the passage should take place through an extraordinary meeting.

According to one of the sources, Vivendi asked for the opinions to be published to allow the market to get a complete idea of ​​their validity.

The board is examining today the request for an extension by KKR on the timeframe for submitting a binding offer for Netco, with the deadline expected to move from the end of September to mid-October.