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Vivendi weighing options at TIM

27 Jul 2018

French media group Vivendi is said to be ‘weighing its options’ with regards to the future of its Italian subsidiary Telecom Italia (TIM), in which it has a 24% interest. Vivendi lost control of TIM’s board in May after a challenge by activist investor Elliott Advisors, with Elliott promising to shake up the way the telco was run. A report from Reuters cites a Vivendi spokesman as saying: ‘Elliott promised all kinds of things, but now they seem to have disappeared … It’s a big mess. There is no collective Elliott team, they’re all over the place.’ The spokesperson did not comment on whether Vivendi is considering a new shareholder meeting to try to overhaul TIM’s board.

In response, TIM chairman Fulvio Conti told Reuters that he was ‘surprised and disappointed’ to read the Vivendi spokesman’s comments. ‘In a positive and constructive climate, the Board is aligned with the CEO and the management to deliver the goals of the strategic plan,’ he said.

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