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Telecom Italia: boosted by the 'Elliott rumour'

(CercleFinance.com) - According to the Bloomberg news agency, the activist investment fund Elliott Management is building up a position in Telecom Italia's capital to "counter" the largest shareholder of the Italian telecoms operator, the French "media conglomerate" group Vivendi.

As the leader of the FTSE Mib index today, the Telecom Italia ordinary share is up over 6% in early afternoon trading in Milan today.

The level of the possible participation was not specified, knowing that that of Vivendi, of which the group of Vincent Bolloré is the largest shareholder, is 24% of the capital of Telecom Italia approximately.

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