Vivendi also raised its ordinary shares in Telecom Italia from the 1.9 percent "recently purchased" to 6.66 percent on June 22, representing a global cash payment of about 1 billion euros ($1.12 billion), it said in a statement.
Telefonica said in a separate statement on Wednesday it would make a capital gain after the divestment of all of its shares in Telecom Italia of 380 million euros, which it would book in the first half.
Telefonica plans to fold GVT into its Vivo-branded Brazilian mobile phone business to create the country's biggest telecom group, Telefonica Brasil.
The stake transfer by Telefonica came after it, Italian insurer Generali, bank Intesa Sanpaolo and Mediobanca decided to break up a vehicle controlling 22.4 percent of Telecom Italia. They are exiting what has been a money-losing venture for them since they entered in 2007.
Mediobanca Chief Executive Alberto Nagel earlier on Wednesday ruled out selling the Italian investment bank's 1.6 percent stake in Telecom Italia to Bollore.