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General

Italian state bank set to back Elliott in TIM board vote - report

Friday 4 May 2018 | 08:36 CET | News
Italian state lender Cassa Depositi e Prestiti (CDP) is set to back the slate put forward by activist investor Elliott Management for Telecom Italia (TIM) in its 04 May boardroom showdown with France's Vivendi, according to unnamed sources cited by Bloomberg. CDP has built a stake of nearly 5 percent in the operator and its vote could be key to the outcome of the battle between Elliott, with a 9 percent stake plus the support of proxy advisers including Glass Lewis, and leading shareholder Vivendi, with 24 percent. The report suggests Cassa Depositi is prepared to backs Elliott because it

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