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General

Italy applies special powers on TIM to scale back Vivendi influence

Tuesday 17 October 2017 | 08:43 CET | News
The Italian government has notified Telecom Italia (TIM) that Prime Minister Paolo Gentiloni signed a decree activating the so-called "golden power" rule of 2012 that allows the state to intervene in strategically important companies. The government's unprecedented move to apply special powers comes after Italian markets watchdog Consob ruled that France's Vivendi had "de facto control" of TIM via a 24 percent stake and two-thirds of the company's board, a view both companies deny.

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