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General

TIM CEO says position 'untenable' if Vivendi loses board battle

Monday 30 April 2018 | 08:42 CET | News
Update: 30 April 2018 | 11:31 CET
The CEO of Telecom Italia has said he would have to reconsider his position if activist fund Elliott prevails in a board battle with the company's leading shareholder Vivendi in a vote to be held later this week. "If the Vivendi slate does not get the majority of votes, because this is clearly the only slate to support our long-term industrial plan, I firmly believe my position as CEO would be untenable," said Amos Genish in an interview in the Sunday Telegraph. Elliott holds around 9 percent of TIM's ordinary shares and has presented a slate of 10 industry veterans for the Telecom Italia

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[30/04/2018 11:31- Update: Added statements from TIM and Elliott clarifying their respective positions.]


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