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General

Vivendi informs Italy's Consob it doesn't control TIM - report

Monday 14 May 2018 | 09:14 CET | News
French media giant Vivendi has informed Italian markets watchdog Consob that it doesn't control Telecom Italia (TIM) after activist fund Elliott succeeded in its bid to seize two-thirds of TIM's board seats, according to an unnamed source cited by Reuters. Vivendi remains TIM's largest shareholder with a stake of 24 percent and 5 directors on the 15-strong board and has always denied controlling the operator even though Consob ruled that it had 'de fact control' of TIM and the Italian government activated the so-called "golden power" rule last October to scale back the French company's

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