TIM: Elliott again pushes for independent directors
(CercleFinance.com) - TIM needs a board that is comprised of truly independent directors to improve governance and performance at the Italian telecoms group, Elliott said on Thursday in reaction to Vivendi's statement earlier this week.
Saying that it is "time for change at Telecom Italia," the hedge fund refuses that Vivendi refers to itself as the "main" shareholder in TIM.
In fact, with less than 25% of the group, the French holding company is merely the group's largest shareholder, Elliott said, pointing out that Vivendi's interests are "no more important than those of other TIM shareholders".
By comparison, Elliot currently holds approximately 9% of the share capital.
The verdict will be on 24 April, when Telecom Italia's shareholders will have to decide between the directors proposed by Vivendi and the new team proposed by Elliott.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Saying that it is "time for change at Telecom Italia," the hedge fund refuses that Vivendi refers to itself as the "main" shareholder in TIM.
In fact, with less than 25% of the group, the French holding company is merely the group's largest shareholder, Elliott said, pointing out that Vivendi's interests are "no more important than those of other TIM shareholders".
By comparison, Elliot currently holds approximately 9% of the share capital.
The verdict will be on 24 April, when Telecom Italia's shareholders will have to decide between the directors proposed by Vivendi and the new team proposed by Elliott.
Copyright (c) 2018 CercleFinance.com. All rights reserved.