Telefonica: reportedly in Elliott's sights
(CercleFinance.com) - According to the Spanish newspaper El Confidencial, Pernod Ricard is not be the only listed company that is in the sights of the American activist investment fund Elliott.
The incumbent Spanish telephone operator, Telefonica, also appears to be in its sight.
El Confidencial understands that Telefonica has activated its anti-takeover bid defenses: Elliott, which also controls the Italian operator Telecom Italia's board of directors, appears to have looked at the Spanish group over the summer, when the Telefonica share price fell below seven euros.
After an internal investigation led by group Chairman and CEO, José María Álvarez-Pallete, Telefonica allegedly suspected Elliott Managment of having intended to enter its capital. Elliott reportedly contacted Telefonica's former directors (former company secretary and development manager) for information.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The incumbent Spanish telephone operator, Telefonica, also appears to be in its sight.
El Confidencial understands that Telefonica has activated its anti-takeover bid defenses: Elliott, which also controls the Italian operator Telecom Italia's board of directors, appears to have looked at the Spanish group over the summer, when the Telefonica share price fell below seven euros.
After an internal investigation led by group Chairman and CEO, José María Álvarez-Pallete, Telefonica allegedly suspected Elliott Managment of having intended to enter its capital. Elliott reportedly contacted Telefonica's former directors (former company secretary and development manager) for information.
Copyright (c) 2018 CercleFinance.com. All rights reserved.