"What I read is not a reality of the moment," Arnaud de Puyfontaine said on Friday on the sidelines of a conference.

Vivendi is Telecom Italia's leading shareholder.

Last May activist fund Elliott wrestled board control from the media giant after a two-month campaign to shake up the way the French group had been running the former telecoms monopoly.

(Reporting by Massimiliano Di Giorgio, writing by Stephen Jewkes)

Stocks treated in this article : Vivendi, Telecom Italia