0
General

TIM to challenge Elliott call for board changes with legal action

Tuesday 10 April 2018 | 08:38 CET | News
Telecom Italia (TIM) has announced that a meeting of its board of directors resolved to "take every legal action" to challenge a decision by statutory auditors to supplement the agenda of the upcoming Annual Shareholders' Meeting to be held on 24 April with a motion proposed by activist fund Elliott to replace six Vivendi-nominated board members. Describing the decision as unlawful, TIM said "statutory auditors can only intervene in a situation of "inertia" (inactivity) of the administrative body in granting the supplementation request made by the shareholders and not in a situation where

Thank you for visiting Telecompaper

We hope you've enjoyed your free articles. Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: General
Companies: Telecom Italia / TIM / Vivendi
Countries: Italy
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

TIM shareholders confirm Genish as CEO

Published 25 Apr 2018 08:36 CET | Italy
Telecom Italia (TIM) shareholders have voted almost unanimously to confirm Amos Genish as the company's CEO at the group's annual ...

Judge delays TIM board standoff until May

Published 23 Apr 2018 14:38 CET | Italy
A Milan judge has accepted the appeal lodged by Telecom Italia (TIM) and its top investor Vivendi against a decision by the ...

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

Published 19 Apr 2018 10:44 CET | Italy
Activist fund Elliott has released a statement criticising Vivendi's defence of its strategy as the leading shareholder of ...

TIM describes Elliott 'break-up plan' as unfeasible

Published 18 Apr 2018 13:59 CET | Italy
The management of Telecom Italia (TIM) has followed leading shareholder Vivendi in defending its strategy against proposed ...

Vivendi reiterates long-term strategy for Telecom Italia

Published 17 Apr 2018 14:42 CET | Italy
French media giant Vivendi has called on Telecom Italia (TIM) investors to confide in its long-term strategy for the company in a ...

Italian state bank raises TIM stake to 4.26%

Published 12 Apr 2018 13:56 CET | Italy
Italian state lender Cassa Depositi e Prestiti (CDP) had a stake in Telecom Italia (TIM) of 4.262 percent on 10 April, according ...

Elliott slams TIM decision to challenge board change request

Published 11 Apr 2018 10:19 CET | Italy
Activist fund Elliott has released a statement slamming the decision by the board of Telecom Italia (TIM) to ask a court to rule ...

Elliott, Vivendi present candidates for Telecom Italia board

Published 10 Apr 2018 11:04 CET | Italy
French media giant Vivendi and activist fund Elliott have presented their lists of candidates for the board of Telecom Italia ...

Elliott raises potential TIM stake to 13.7%

Published 09 Apr 2018 15:43 CET | Italy
Activist investor Elliott has increased its stake in Telecom Italia (TIM) to a potential 13.7 percent, according to a SEC ...

Proxy adviser Glass Lewis tells TIM investors to back Elliott's proposals

Published 09 Apr 2018 08:53 CET | Italy
Proxy adviser Glass Lewis has recommended that investors in Telecom Italia (TIM) support a proposal by activist fund Elliott to ...

Italian state bank confirms intention to buy 5% TIM stake

Published 06 Apr 2018 08:21 CET | Italy
Italian state lender Cassa Depositi e Prestiti (CDP) announced that its board approved a plan to acquire a stake of up to 5 ...

Elliott raises Telecom Italia stake to 9.9% - report

Published 04 Apr 2018 15:07 CET | Italy
Activist fund Elliott has increased its stake in Telecom Italia (TIM) to 9.9 percent following its call to replace six ...

TIM auditors agree to add Elliott motions to shareholder meeting

Published 28 Mar 2018 10:16 CET | Italy
Telecom Italia (TIM) has announced that its statutory auditors have unanimously decided to supplement the agenda of a 24 April ...

Majority of TIM board resigns following Elliott pressure

Published 23 Mar 2018 09:12 CET | Italy
Telecom Italia (TIM) has announced the resignation of the majority of its board of directors, in what has been seen as a way of ...

Elliott hikes Telecom Italia stake to potential 5.75%

Published 22 Mar 2018 08:44 CET | Italy
Activist fund Elliott has increased its equity stake in Telecom Italia (TIM) to 3.75 percent and holds a further 1.99 percent in ...

Elliott formally asks TIM to replace 6 board members

Published 15 Mar 2018 14:16 CET | Italy
Telecom Italia (TIM) has confirmed the receipt of a request from activist fund Elliott and other investors to include a motion to ...