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General

Elliott lambasts Vivendi's 'failed stewardship' of Telecom Italia

Thursday 19 April 2018 | 10:44 CET | News
Activist fund Elliott has released a statement criticising Vivendi's defence of its strategy as the leading shareholder of Telecom Italia (TIM). The fund, which holds around 9 percent of TIM's ordinary shares and has proposed to replace six Vivendi-nominated board members, said TIM has experienced "profound and persistent share price underperformance, made repeated strategic missteps, operated with no regard for proper governance and exhibited numerous conflicts of interest" under Vivendi's control. Elliott added that the French company's "failed stewardship" of Telecom Italia reinforced its

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