Telecom Italia: Vivendi challenges board decision

(CercleFinance.com) - Vivendi has announced its intention to use "all legal means at its disposal" to contest the decision of Telecom Italia's Board of Directors to accept KKR's offer to acquire the TIM network.


Vivendi, which holds nearly a quarter of the Italian operator's capital, says that this decision, taken without having first informed and solicited the vote of Telecom Italia's shareholders, violates the applicable rules of governance.

It adds that Telecom Italia's Board of Directors has deprived every shareholder of the right to express their opinion at a shareholder meeting, as well as the associated right of withdrawal for shareholders who disagree with the decision.


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