Vivendi

Former Telecom Italia chairman Arnaud de Puyfontaine (pictured) left the operator’s board with immediate effect, citing an aim to devote his efforts to re-establishing a growth path for the operator from his position as CEO of major shareholder Vivendi.

Orange entered into exclusive talks with fellow French company Vivendi to sell its OCS operation, the second-largest pay-TV business in the country by subscribers, Reuters reported.

Frank Cadoret, one of two remaining board members representing French group Vivendi on Telecom Italia’s board, resigned from the position with no reason given for his departure, Reuters reported.

Telecom Italia’s largest shareholder Vivendi reportedly delivered a major boost to transformation plans unveiled by CEO Pietro Labriola by throwing its support behind the recently-appointed executive.

Vivendi reportedly opened the door to the possibility of handing control of Telecom Italia’s fixed-line network to the Italian government, as it looks to stave off a takeover bid for the operator by investment company KKR.

Telecom Italia CEO Luigi Gubitosi resigned less than a week after the operator received a takeover bid from investment company KKR, with the boss of subsidiary TIM Brasil Pietro Labriola handed control of the group on a temporary basis.

Vivendi distanced away from a possible sale of its stake in Telecom Italia following a takeover bid for the operator from private equity investor KKR, insisting it remained a long-term investor and was determined to achieve success.