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General

Vivendi CEO ready to suspend powers as TIM chairman to support strategy debate

Thursday 15 March 2018 | 08:38 CET | News

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Vivendi CEO Arnaud De Puyfontaine could suspend his executive powers as chairman of Telecom Italia (TIM) to lend his support to a debate on strategy following activist fund Elliott's move to build a stake in the operator, according to an unnamed Vivendi spokesman cited by Reuters. Elliott last week confirmed it had taken an as yet unspecified stake in TIM and planned to request the resignation of at least 5 and up to 7 board members, including de Puyfontaine and CEO Amos Genish, in a bid to counter the operator's largest investor Vivendi and improve strategy, value and governance.

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