Vivendi CEO Arnaud De Puyfontaine has tendered his resignation from TIM’s board of directors, a move that could help smooth the way for some sort of resolution in Italy’s ongoing high-speed network debacle.
As the KKR takeover bid for Telecom Italia hangs in the air, the Italian government has signalled that it wants to control key strategic assets.
The latest twist in the Telecom Italia saga could involve the company going full circle with the Italian state taking back control.
Luigi Gubitosi, CEO and GM of the artist formerly known as Telecom Italia, has had his resignation accepted by the TIM board.
The bid by private equity firm KKR to acquire Italian telco group TIM has brought is boardroom battle of wills to a fresh crescendo.
Telecom Italia isn’t having an easy time of it so major investor Vivendi has apparently started moaning again.
Italian lawmakers are preparing the ground for another probe into Vivendi’s status as a shareholder of both TIM and Mediaset.
Italian Media company Mediaset wants to merge its Italian and Spanish businesses, something that significant shareholder Vivendi opposes.
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.
French media giant Vivendi seems to be a bit short of cash, so it’s thinking of selling 10% of Universal Music to Tencent for three billion euros.
Vivendi-subsidiary Canal Plus has announced the €1 billion acquisition of pay-TV operator M7, expanding the business into seven new European markets.
French conglomerate Vivendi withdrew its bid to replace five TIM board members at the 11th hour but doesn’t seem happy about it.
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.
