Elliott hits back at Vivendi's claims of "disastrous" management [Seeking Alpha]
TELECOM ITALIA (TI)
US:NYSE Investor Relations:
telecomitalia.com/tit/en/investors.html
Company Research
Source: Seeking Alpha
Activist investor Elliott hits back at Vivendi ( OTCPK:VIVHY ) after the telecom called the investor’s management of Telecom Italia (NYSE: TI ) “disastrous.” Elliott took board control away from the Vivendi in May. Vivendi remains TIM’s top shareholder with a 24% stake. Vivendi says TIM’s share price lost 35% since Elliott’s involvement despite the promise to double the price within two years. Elliott says it made no such promise but instead offered “an assessment of the upside potential” over the medium-term if an independent board executed its proposals, which hasn't happened. Elliott’s proposals included a spin-off and partial sale of a forthcoming network company, a conversion of savings shares, and asset sales. Previously: Elliott gains control of Telecom Italia (May 4)
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