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Vivendi reps on Telecom Italia board back EI Towers' bid for INWIT stake

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Vivendi reps on Telecom Italia board back EI Towers' bid for INWIT stake

VivendiSA's four representatives on Telecom Italia SpA's board are reportedly urging theItalian telco to support EI Towers SpA's for a stake inInfrastrutture Wireless Italiane SpA, or INWIT.

The Vivendi board members prefer the offer from -backed EI Towerssince it would enable Telecom Italia to retain a bigger share of its towersunit, Telecompaper reported March 29, citing La Repubblica.

In contrast, the bid from a consortium between 's Cellnex Telecom and Italian infrastructure fundF2i would allow Telecom Italia to keep only less than 15% of INWIT.

The sale of the INWIT stake was reportedly one of thereasons for Vivendi's spat with former Telecom Italia CEO Marco Patuano, whichled to the latter's resignation.