Vivendi has Decided to Abstain From Voting on Telecom Italia’s Board of Directors Renewal at the April 23, 2024 AGM
VIVENDI SE UNSP/ADR (VIVHY)
NASDAQ:AMEX Investor Relations:
vivendi.com/en/investment-analysts
Company Research
Source: Business Wire
PARIS--(BUSINESS WIRE)--Regulatory News:Vivendi (Paris:VIV) wishes to reiterate that it has been a supportive shareholder of Telecom Italia (TIM) since May 2015. Following the arrival of the Elliott fund at the 2018 TIM shareholders’ meeting, Vivendi lost influence over TIM which has suffered from the failure of Elliott’s plan. In addition, following the resignation of its two representatives from TIM’s Board of Directors, Vivendi ceased to account for its interest in TIM under the equity method, as of December 31, 2022.As a financial investor, Vivendi’s preoccupation is that TIM’s Board and management deliver a durable growth of the stock price through sound business decisions in the company’s interest, respectful of shareholders’ prerogatives and good governance principles.As a consequence, Vivendi does not support the slate put forward by the outgoing Board, given its continuity with a Board during whose tenure the stock price lost half of its value and which is responsible for
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