Unique: Vivendi able to assist different investor-backed technique at Telecom Italia to spice up share worth

MILAN (Reuters) – Telecom Italia’s (TLIT.MI) principal shareholder Vivendi (VIV.PA) believes within the cellphone firm’s new strategic plan however is able to think about any transfer supported by shareholders to spice up its share worth, a Vivendi spokesman informed Reuters on Monday.

FILE PHOTO – The Vivendi emblem is pictured on the principal entrance of the entertainment-to-telecoms conglomerate headquarters in Paris, March 10, 2016. REUTERS/Charles Platiau/File Picture

Final week activist fund Elliott Advisors mentioned it had taken a stake in Telecom Italia (TIM) and was prepared to interchange board members in a drive to enhance technique, worth and governance.

The spokesman mentioned Vivendi CEO and TIM Chairman Arnaud De Puyfontaine was prepared to contemplate suspending his government capabilities on the cellphone incumbent throughout the interval dedicated to this strategic debate.

“Elliott Administration repeatedly assaults States and firms… and is understood for its monetary method targeted on quick time period positive aspects, most likely main on this case to dismantling TIM,” the spokesman mentioned.

Vivendi owns round 24 % of TIM.

Reporting by Agnieszka Flak, writing by Stephen Jewkes

Yasir Ali
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