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General

CDP spends EUR 960 mln to increase TIM stake to 8.7%

Monday 11 March 2019 | 10:26 CET | News
Italian state lender CDP has spent over EUR 960 million to increase its stake in Telecom Italia (TIM) to around 8.7 percent, according to a SEC filing. The state holding now has over 1.32 million TIM shares and is reportedly determined to reach a 10 percent stake ahead of a key shareholder vote on the composition of TIM's board on 29 March. The meeting will see shareholders vote on a request by leading shareholder Vivendi to remove five board members appointed by US activist fund Elliott on grounds of what the French company claims is a "substantial lack of independence".

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Categories: General
Companies: Telecom Italia / TIM / Vivendi
Countries: Italy
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