AT&T in talks to appease Elliott: sources
Reports have emerged to suggest the AT&T management team is attempting to reduce pressure from activist investor Elliott Management.
Reports have emerged to suggest the AT&T management team is attempting to reduce pressure from activist investor Elliott Management.
Fulvio Conti, who was appointed as Chairman of Italian telecoms group TIM after Vivendi lost control of its board, thinks his work there is done.
A report is suggesting AT&T is mulling over the prospect of selling its DirecTV assets as pressure mounts on the management team.
The apparent anointing of John Stankey as the next AT&T CEO is reportedly what prompted Elliott to announce its activist intentions.
Activist investor Elliott Management has set its eyes on AT&T, suggesting the firm is bloated and undervalued, with ambitions to cut staff, clear out the leadership team and sell-off non-core assets.
The emotional level of the custody battle for TIM has reached a new pitch, with Vivendi starting to lose its composure.
It took the TIM board a few days to respond to a bunch of accusations thrown at it by Vivendi, but the result was pretty comprehensive.
Vivendi says a recent TIM auditors report shows dodgy behaviour from Elliott, which in turn reckons Vivendi is a negative influence on the company.
Vivendi wants Italian operator TIM to have a special meeting to choose new board members, but its auditors don’t agree.
The TIM board met today to discuss Vivendi’s request for a shareholder meeting and decided it can wait until the end of March.
Ahead of a TIM board meeting today Vivendi and TIM Chairman Fulvio Conti have been publicly bitching at each other.
As promised Vivendi has written to the board of Italian operator group TIM in a bid to replace Elliott-nominated members with its own proposed ones.
It was just a matter time before Vivendi reacted to its man being sacked as CEO of TIM and replaced by an Elliott ally.
The only surprising thing about ousted TIM CEO Genish publicly attacking Elliott was that it took so long.
As anticipated by Telecoms.com last week, Telecom Italia (TIM) has appointed current board member Luigi Gubitosi as its new CEO.
A source close to Vivendi has revealed the names of the two people they think are most likely to get the TIM CEO job vacated this week by Amos Genish.
In one of the least surprising board room purges ever, Telecom Italia (or TIM for short) has got rid of its CEO Amos Genish.
Activist investor Elliott Advisors has hit back following criticism of TIM by French conglomerate Vivendi.
TIM CEO Amos Genish has been moaning about his executive board, which has prompted the inevitable damage limitation exercise.
Despite activist investor Elliott leading a coup d’état in the Telecom Italia boardroom, Vivendi man Amos Genish has confirmed he will continue as CEO, providing some much need stability for the Italian telco.
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