French conglomerate Vivendi is considering a sale of its stake in Telecom Italia (TIM).

Bloomberg reports that Vivendi is expected to explore a reorganization of its overall business.

Vivendi's stake in TIM is worth €1.3 billion ($1.4bn), totaling around 24 percent of the telco.

Vivendi has repeatedly voiced its objections to Telecom Italia's plans to sell its landline grid.

After Telecom Italia confirmed it has agreed to sell its landline business to investment firm KKR for €22 billion ($24 billion) last month, Vivendi didn't hold back.

Vivendi said that the rights of Telecom Italia's shareholders had been "trampled on."

"Vivendi deeply regrets that TIM’s Board of Directors accepted KKR’s offer to buy TIM’s network without first informing and requesting a vote from its shareholders, thus contravening applicable governance rules," the company said in a scathing statement.

Although the Italian government gave the sale its blessing, Vivendi has maintained the deal has been unlawful, and is likely to challenge the verdict at the courts.

Vivendi said earlier this week that it's considering splitting its business into three parts, separating pay-TV Canal+, advertising and communications unit Havas, and the creation of a holding company for culture, media, and entertainment.

Vivendi acquired its initial holding in TIM as part of a deal in 2014 to sell its Brazilian broadband business GVT to Telefonica SA, then an investor in Telecom Italia.

However, since then the Italian company’s shares have lost more than two-thirds of their value.

Vivendi paid about €3.9 billion in 2015 and 2016 for additional shares in Telecom Italia.