Telecom Italia is set to name Vivendi CEO Arnaud de Puyfontaine (pictured) as chairman, days after the European Commission (EC) approved the media giant’s plans to take control of the Italian operator, Reuters reported.
De Puyfontaine is expected to be appointed at a board meeting today, taking over from current chairman Giuseppe Recchi, who was re-elected at a meeting in early May.
The Vivendi chief had been widely touted as the next chairman of Telecom Italia prior to Recchi’s reappointment, after the French company secured a majority on its board on May 4.
However, prior to the vote, reports emerged Recchi was likely to hold on to the role until the EC made its decision.
The EC cleared Vivendi’s plans to gain control of the Italian operator on 30 May, on condition Vivendi divested Telecom Italia’s stake in media distribution company Persidera.
According to Reuters reports, although the subject of Recchi’s role is set for debate at today’s meeting, the fate of Persidera is not up for discussion.
Although the EC completed its investigation into Vivendi’s increasing influence in the Italian telecom sector, the company is still to announce its stance on an investigation by Italian communications regulator Agcom into its activities.
During April, Agcom ordered Vivendi to cut either its 24 per cent stake in Telecom Italia or its 28.8 per cent share of broadcaster Mediaset to meet the country’s strict media ownership regulations.