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Elliott raises potential TIM stake to 13.7%
2018-04-09 15:43:00| Telecompaper Headlines
(Telecompaper) Activist investor Elliott has increased its stake in Telecom Italia (TIM) to a potential 13.7 percent, according to a SEC filing. Elliott and its affiliate funds hold around 8.8 percent of TIM's ordinary shares, with the investor also owning call options on 750 million ordinary shares, which is equivalent to a further 4.9 percent stake, Reuters reported. The fund has also accumulated 169.5 million saving shares in the operator in the wake of its call for six Vivendi-nominated board members, including TIM chairman and Vivendi CEO Arnaud de Puyfontaine, to be replaced at the company's 24 April AGM.
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Category:Telecommunications