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Vivendi move to drop board reshuffle bid 'courageous' - TIM CEO
2019-04-01 09:28:00| Telecompaper Headlines
(Telecompaper) The chief executive of Telecom Italia (TIM) Luigi Gubitosi has described the decision of leading shareholder Vivendi to withdraw its proposal to replace five board members at the Italian operator as "courageous" and a first move towards peace. US fund Elliott seized control of the board of directors in May, when 10 of its proposed independent candidates were appointed, together with 5 Vivendi-nominated directors, in a 15-strong board. However, Vivendi subsequently called for the removal of TIM chairman Fulvio Conti and four other Elliott-appointed directors on grounds of a "substantial lack of independence" and for conspiring to replace TIM CEO Amos Genish, a former Vivendi executive, a motion it revoked just ahead of the 29 March shareholders meeting.
Last week in telecoms: focus on BT, TIM, Altice Europe and the German market
2019-04-01 07:01:00| Telecompaper Headlines
(Telecompaper) Winners and losers in the Telecompaper Stock Index European Telecoms roughly balanced each other in week 13. Still, the index was down 1.6 percent versus a gain of 1.4 percent for the EuroStoxx 50 index. This was the result mainly of the heavyweights going down, both Deutsche Telekom (-5.4%) and Vodafone (-3.1%). Altice Europe (+18%) was the week's winner, followed closely by the pennystock Forthnet (+18%). 1&1 Drillisch (-16%), Veon (-14%), Go Internet (-12%) and Turk Telekom (-12%) suffered double digit losses.
Vivendi urges Consob to probe TIM governance issues
2019-03-18 08:58:00| Telecompaper Headlines
(Telecompaper) French media giant Vivendi has again urged the auditors of Telecom Italia (TIM) and Italian market regulator Consob to further investigate a series of governance issues at the operator. Vivendi, which remains TIM's top shareholder with a 24 percent stake, released a statement calling for an in-depth investigation after TIM's auditors issued a report indicating irregularities in the way information was shared with the company's board members prior to the sacking of chief executive Amos Genish in November. Vivendi claims board members appointed by US activist fund Elliott conspired to replace Genish, a former Vivendi executive.
Tags: issues
tim
probe
governance
Tim Berners-Lee: 'Stop web's downward plunge to dysfunctional future'
2019-03-11 22:09:34| BBC News | Business | UK Edition
Thirty years after he invented it, Sir Tim Berners-Lee says the web is not what it should be.
CDP spends EUR 960 mln to increase TIM stake to 8.7%
2019-03-11 10:26:00| Telecompaper Headlines
(Telecompaper) Italian state lender CDP has spent over EUR 960 million to increase its stake in Telecom Italia (TIM) to around 8.7 percent, according to a SEC filing. The state holding now has over 1.32 million TIM shares and is reportedly determined to reach a 10 percent stake ahead of a key shareholder vote on the composition of TIM's board on 29 March. The meeting will see shareholders vote on a request by leading shareholder Vivendi to remove five board members appointed by US activist fund Elliott on grounds of what the French company claims is a "substantial lack of independence".
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