Vivendi committed to TIM despite disappointing results -source

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FILE PHOTO: FILE PHOTO: FILE PHOTO: French media giant Vivendi's logo in Paris

MILAN – Telecom Italia’s (TIM) top investor Vivendi is committed to supporting Italy’s biggest telecoms group despite its disappointing financial results, a source close to the French media group said on Wednesday.

The comments came after TIM posted a decline in revenues and core profits for the third quarter.

The source said that, while it acknowledged that the trends in TIM’s results were not in line with expectations, Vivendi was prepared to help TIM achieve its goals.

“Vivendi will continue to accompany TIM to achieve its objectives in partnership with the Italian institutions. Vivendi may also see how the group can contribute more generally in the Italian economy as a long term partner,” the source added without elaborating.

(Reporting by Elvira Polina; writing by Valentina Za; Editing by Leslie Adler)