Telecom Italia SpA (TIT.MI) said Wednesday that it will pursue a joint venture with Vivendi SA's (VIV.FR) Canal+ but negotiations must be restarted in the face of a Jan. 18 deadline to sign a definitive agreement that will be missed.
Telecom Italia said it considers its content offering strategic, and it plays a key role in the company's 2018-20 strategic plan. Negotiations with pay-TV company Canal+ toward the formation of a content JV will restart immediately, the Italian company said.
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Vivendi controls Canal+, and has a 24% stake in Telecom Italia.
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(END) Dow Jones Newswires
January 17, 2018 06:49 ET (11:49 GMT)