France’s Vivendi does not rule out increasing its stake in Telecom Italia after becoming the group’s biggest investor with 14.9 percent, CEO Arnaud de Puyfontaine told daily Corriere della Sera in an interview on Thursday.

Vivendi said on Wednesday it had raised its stake in Telecom Italia to just under 15 percent, replacing Telefonica as its biggest shareholder and gaining a foothold in a country it said had significant growth prospects.

Asked if the company would increase its stake further, De Puyfontaine told Corriere della Sera: “Time will tell, never say never.”

(Reporting by Agnieszka Flak, editing by Silvia Aloisi)

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