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Tag: vivendi
Vivendi loses control of TIM board following crucial shareholder vote
2018-05-08 02:00:00| Total Telecom industry news
Telecom Italia has reappointed Amos Genish as CEO, while Fluvio Conti will take on the role of chairman, after votes were cast at the company's annual shareholder meeting. 49.84 per cent of shareholders approved a list of board changes proposed by activist shareholder fund…read more on TotalTele.com »
Vivendi sells entire stake in Ubisoft for EUR 2 bln
2018-03-21 08:39:00| Telecompaper Headlines
(Telecompaper) Vivendi has announced that it has entered into agreements to sell its 27.27 percent stake in games developer Ubisoft, amounting to 30,489,300 shares, for EUR 2 billion. This interest was acquired over the past three years for EUR 794 million. As part of the deal, Vivendi will no longer be a Ubisoft shareholder and has committed to refrain from purchasing Ubisoft shares for a period of five years. The move follows speculation last year that the company could face a possible hostile bid from Vivendi, despite opposition from the Guillemot family (founder and minority shareholder of Ubisoft).
Activist investor Elliott increases TIM stake to counter Vivendi - report
2018-03-06 09:51:00| Telecompaper Headlines
(Telecompaper) Activist investor Elliott Management is increasing its stake in Telecom Italia (TIM) in a bid to counter how the operator's largest investor Vivendi is running the company, according to unnamed sources cited by Bloomberg. Elliott is mulling the possibility of nominating directors to TIM's board and pushing for other changes at the company, said the sources, adding that the hedge fund is concerned about the operator's falling stock and business performance since Vivendi took majority control of the board.
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Italy applies special powers on TIM to scale back Vivendi influence
2017-10-17 08:43:00| Telecompaper Headlines
(Telecompaper) The Italian government has notified Telecom Italia (TIM) that Prime Minister Paolo Gentiloni signed a decree activating the so-called "golden power" rule of 2012 that allows the state to intervene in strategically important companies. The government's unprecedented move to apply the golden power comes after Italian markets watchdog Consob ruled that France's Vivendi had "de facto control" of TIM via a 24 percent stake and two-thirds of the company's board.
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TIM to name Vivendi man as new CEO
2017-09-28 02:00:00| Total Telecom industry news
TIM is expected to appoint Amos Genish as its new chief executive at a board meeting on Thursday. Vivendi CEO Arnaud de Puyfontaine is also likely to be confirmed as TIM chairman at the meeting…read more on TotalTele.com »
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