Telecom Italia’s (TIM) board has approved a new strategic plan that includes the opening of discussions with wholesale fibre network provider Open Fiber, with “all possible options” including a sale of the TIM network, on the table. CEO Luigi Gubitosi presented the three-year plan, which was accepted by the board with two abstentions. TIM said […]
Telecom Italia’s (TIM) board of statutory auditors has rebuffed Vivendi’s call for a shareholders’ meeting this month to discuss its call for the ejection of board members supported by hedge fund Elliott Management and the appointment of new auditors. Vivendi triggered a request for a meeting of the telco’s shareholders in December, following the dismissal […]
Vivendi has condemned what it sees as a move by its rival for the control of Telecom Italia (TIM), Elliott Advisors, to take advantage of the ongoing decline in TIM’s share price to acquire more stock. Responding to an SEC filing that revealed that Elliott has increased its stake in TIM to 9.4%, up from […]
Telecom Italia (TIM) has appointed Alessandro Picardi, chairman of digital satellite platform TivùSat and director of strategic development for platforms at public broadcaster Rai, as its new chief of public affairs, reporting to CEO Luigi Gubitosi. Picardi replaces Francesco Russo, who is leaving the company. Prior to his current role at Rai, Picardi was Director […]
Vivendi has triggered a request for a meeting of Telecom Italia’s shareholders to appoint new auditors and has called for the dismissal of chairman Fulvio Conti and four other board members nominated by its rival for control of the Italian telco, Elliott Management. Vivendi has proposed the nomination of Franco Bernabè, Rob van der Valk, […]
Vivendi has taken a step towards forcing a resolution of its battle with hedge fund Elliott Advisors for control of Telecom Italia (TIM) by calling for a shareholders’ meeting to appoint new financial auditors and replace five board members from Elliott’s slate of 10 that the French media giant says were involved in decisions that […]
Telecom Italia (TIM) has named Alitalia president and former Wind CEO Luigi Gubitosi as its new CEO, replacing Amos Genish, who was ousted in a boardroom coup last week. Following his appointment, Gubitosi will sit as a non-independent executive director and will no longer sit on the company’s control and risk committee. Gubitosi joined the […]
The war between French media giant Vivendi and activist hedge fund Elliott Advisors to determine the future direction of Telecom Italia (TIM) has resumed in earnest following the forced departure of CEO Amos Genish this week. TIM has now issued a statement warning Vivendi against making “further false and misleading announcements whose only effect is […]
Telecom Italia’s (TIM) board has ousted CEO Amos Genish at a meeting called early this morning, despite assurances issued earlier that no such meeting was planned. TIM said that the board had met and “deliberated by a majority vote to revoke with immediate effect all powers conferred to Director Amos Genish” with his powers to […]
Activist investor Elliott Advisors has responded to Vivendi’s criticism of the performance of Telecom Italia (TIM) since the hedge fund’s boardroom coup earlier this year by blaming the company’s existing direction, set by Vivendi when it controlled the board. Vivendi last week condemned the “disastrous” performance of TIM since the boardroom coup engineered by private […]
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