CERNOBBIO, Italy (Reuters) - The chief executive of Vivendi (PARIS:VIV) did not rule out on Saturday that the French media group may raise its stake in Spain's Telefonica (MADRID:TEF) in the future, but said there was no plan to increase its holding in Telecom Italia (MILAN:TLIT).
"Currently it's not on the agenda ... but, as I said, never say never," CEO Arnaud de Puyfontaine told reporters on the sideline of the Ambrosetti business forum in northern Italy.
Vivendi recently became one of Telefonica's top 10 shareholders, with a stake of around 1 percent, after agreeing to swap shares in the Spanish telecom operator's Brazilian unit for those of the parent company.
Vivendi is also the largest shareholder in the Italian telecoms incumbent with a 15 percent stake.
Dismissing speculation in the local press, de Puyfontaine said Vivendi had no interest in Italian broadcaster Mediaset.