Vivendi and activist investor Elliott Management are now engaged in a battle over the future of Vivendi’s management of Telecom Italia (TIM). Elliott, which now has control of over 5% of TIM’s stock, holding about 3% by itself and controlling other shares through financial instruments, has written an open letter to TIM shareholders accusing Vivendi […]
US activist investor Elliott Management has formally submitted a request to Telecom Italia (TIM) to include a proposal to remove Vivendi-nominated members from the telco’s board when TIM shareholders meet on April 24. Elliott has called for six directors – TIM chairman Arnaud de Puyfontaine, Hervé Philippe, Frédéric Crépin, Giuseppe Recchi, Félicité Herzog and Anna […]
Arnaud de Puyfontaine could temporarily step down as Telecom Italia (TIM) chairman for the duration of a debate about the future strategic direction of the telco, according to a Reuters report. The move follows the entry of US-based activist investor Elliott Management into Telecom Italia’s shareholders with a small stake. Elliott has contested Vivendi’s strategy […]
US activist investor Elliott Management has taken a stake in Telecom Italia and is seeking to oust Vivendi-appointed directors in a move that further complicates the French media giant’s Italian strategy. According to Italian financial paper Il Sole 24 Ore, the US fund has taken a position that does not exceed the 5% Italian regulatory […]
Hedge fund Elliott Management is continuing to pursue German cable operator Kabel Deutschland in the courts, despite a rejection of its claim that Vodafone underpaid for its majority stake in the company by an extraordinary shareholders meeting in March. Elliott has filed a complaint with the Munich District Court calling for a special auditor to […]
Vodafone plans to drop the Kabel Deutschland brand this year, according to German press reports. Vodafone Germany chief executive Jens Schulte-Bockum told Handelsblatt that the company was involved in detailed planning for the change, which will see the Vodafone brand used both for fixed and mobile services. Vodafone is currently in dispute with a remaining […]
Vodafone majority-owned German cable operator Kabel Deutschland is to grant minority shareholder Elliott Management its request for an extraordinary general meeting of shareholders, which will likely take place on March 20. The move follows the US hedge fund’s request for a meeting and call for an independent auditor to be appointed to look into the […]
Vodafone majority-owned Kabel Deutschland has been asked to call an extraordinary shareholders’ meeting to look into whether its management gave accurate and timely information to investors at the time of its takeover. Hedge fund group Elliott Management, which holds a stake of about 13.5% in the company, has requested the meeting and has called for […]
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