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TIM confirms Genish as CEO, names Fulvi as chairman following Elliott boardroom coup
2018-05-08 08:37:00| Telecompaper Headlines
(Telecompaper) Telecom Italia (TIM) has announced the reappointment of Amos Genish as its CEO and independent director Fulvio Conti as its chairman after activist fund Elliott succeeded in its bid to take control of the company's board from leading shareholder Vivendi. In a statement, the operator said Conti, a former TIM manager and CEO of state-controlled utility Enel, would replace Vivendi CEO Arnaud de Puyfontaine as TIM chairman, with head of security Stefano Grassi temporarily assigned powers to manage all assets deemed strategic for national security and defence.
Elliott list secures two-thirds of Telecom Italia's board - report
2018-05-04 15:01:00| Telecompaper Headlines
(Telecompaper) A list of 10 candidates presented by activist fund Elliott Management has secured two-thirds of Telecom Italia's board seats following a shareholder vote held on 04 May, reports Reuters. A total of 49.84 percent of the shareholders present at the meeting voted in favor of the Elliott list, while 47.18 percent voted in favour of Vivendi's list led by current TIM CEO Amos Genish, with Vivendi CEO Arnaud de Puyfontaine proposed as non-executive chairman. The report added that Genish and de Puyfontaine will still be part of the board, together with three other Vivendi candidates, meaning that the French company and Elliott will have to have to find a way to work together after a two-month power struggle.
Tags: list
report
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telecom
Bookshop chain Waterstones sold to Elliott Advisors
2018-04-26 10:15:08| BBC News | Business | UK Edition
The bookshop chain, which has 283 outlets, is snapped up by investment firm Elliott Advisors.
Tags: sold
chain
advisors
elliott
TIM to challenge Elliott call for board changes with legal action
2018-04-10 08:38:00| Telecompaper Headlines
(Telecompaper) Telecom Italia (TIM) has announced that a meeting of its board of directors resolved to "take every legal action" to challenge a decision by statutory auditors to supplement the agenda of the upcoming Annual Shareholders' Meeting to be held on 24 April with a motion proposed by activist fund Elliott to replace six Vivendi-nominated board members. Describing the decision as unlawful, TIM said "statutory auditors can only intervene in a situation of "inertia" (inactivity) of the administrative body in granting the supplementation request made by the shareholders and not in a situation where there is a justified decision which the Board of Statutory Auditors does not agree with," which it said was the case in this particular instance.
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.
Tags: potential
tim
raises
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