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General

Elliott urges TIM shareholders to remove Vivendi 'impediment'

Friday 27 April 2018 | 10:05 CET | News
Activist fund Elliott has sent a letter to shareholders of Telecom Italia (TIM) ahead of a 04 May vote to change the group's board urging them to "uphold best practice governance principles" by reducing the influence of top investor Vivendi. The French company controls TIM via a 24 percent stake but is described by Elliott as "an impediment to TIM's full potential", with the fund suggesting that "Vivendi's repeated missteps have eroded the value of [shareholder] investment".

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