Telecom Italia: crucial shareholder meeting in Milan today
(CercleFinance.com) - The Italian incumbent telecom operator, Telecom Italia, is holding its meeting for shareholders in Milan today.
At the meetin, two of the group's major shareholders - the French company Vivendi, which has nearly a quarter of the capital, and the activist fund Elliott, which has almost 10% of the shares, could again clash.
Aurel BGC says that this is a "crucial day" for the Italian group. Vivendi has presented a list of five candidates to regain control of the group. It actually wants to replace five directors who are close to the activist fund Elliott. Vincent Bolloré's company denounces serious irregularities in governance, although it is not at all certain that Vivendi wins this battle, analysts say. To be watched closely.
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