Elliott Management

Vivendi slams Elliott record as Telecom Italia shares nosedive

French media group Vivendi has expressed alarm at what it sees as the “disastrous” performance of Telecom Italia (TIM) since the boardroom coup engineered by private equity outfit Elliott earlier this year that saw Vivendi lose control of the company, in which it remains the largest shareholder. In a statement, Vivendi said it is “deeply […]

Vivendi loses control of Telecom Italia, but Genish stays on

Vivendi lost control of Telecom Italia (TIM) at the end of last week, with its bitter rival Elliott Advisors securing a bigger share of votes and hence a majority for its slate of proposed board members. Elliott’s victory meant that its slate secured two thirds of the seats on the TIM board. Fulvio Conti, one […]

Telecom Italia plays down report that Genish may quit if Elliott successful

Telecom Italia has contested a headline in the Sunday Telegraph that implied interim chief executive Amos Genish would quit if hedge fund Elliott Advisors wins its battle with Vivendi for control of the strategic direction of the telco. Telecom Italia characterised the headline – “Telecom Italia boss ‘ready to quite’ over activist” – rather than […]

Vivendi secures Genish confirmation ahead of TIM battle

Vivendi scored a partial victory at the first of Telecom Italia’s (TIM) two shareholders’ meetings that will decide the destiny of the operator, which confirmed the appointment of Amos Genish as TIM’s CEO. The ordinary shareholders’ meeting also approved the company’s 2017 financial statements and the distribution of a dividend of 2.75 cents a share […]

Vivendi secures reprieve in Telecom Italia battle with Elliott

Vivendi has secured a reprieve in its battle with US hedge fund Elliott Advisors for control of the future direction of Telecom Italia after a Milan court ruled against allowing Elliott to propose the revocation of Vivendi-nominated directors and their replacement by a new slate to today’s shareholders’ meeting. Judge Elena Riva Crugnola, in the […]

Elliott on the offensive again in Telecom Italia battle with Vivendi

‘Activist investor’ Elliott Advisors has issued a rebuttal of Telecom Italia’s (TIM) rejection of its plan to break up the company and “unlock significant value” as the hedge fund and TIM’s largest shareholder Vivendi battle for control of the Italian telco’s board. Elliott’s latest move follows TIM’s presentation to investors this week, in which it […]

Telecom Italia counters Elliott plan with new presentation

Telecom Italia (TIM) has rejected ‘activist investor’ Elliott Management’s plans to break up the company in a presentation to investors. The move followed the TIM board’s publication of its industrial plan in March and hedge fund Elliott’s publication of a counter-plan in April. While Elliott said it supported TIM CEO Amos Genish’s business plan, it […]

Vivendi submits slate ahead of Telecom Italia board battle

Vivendi has submitted its slate of candidates for the board of Telecom Italia (TIM) as it prepares to do battle with a hostile coalition of investors led by US hedge fund Elliott and Italian state-backed investment outfit Cassa Depositi e Prestiti (CDP). Vivendi’s list of candidates is headed by current CEO Amos Genish and also […]

Telecom Italia: plot thickens ahead of crucial vote

Italian investment group Cassa Depositi e Prestiti (CDP) is preparing to take a stake in Telecom Italia (TIM) of up to 5%, according to local reports. The move is likely to further complicate Vivendi’s attempts to retain its existing influence over the strategic direction of the telecom operator in the face of an attempt by […]

Vivendi buys time in TIM battle with mass board resignation

Vivendi has bought itself time to regroup and persuade Telecom Italia (TIM) shareholders to support its strategic plan for the telco by having its representatives on the TIM board resign on mass, triggering a re-election process and delaying a vote on the make-up of the board to May 4. The move came in reaction to […]