Telefonica, Telenor and Vivendi are part of the Zacks Industry Outlook article.
Telecom Italia (TIM) boss Pietro Labriola appeared set to secure a second term after leading investor Vivendi decided to abstain in a shareholder vote on the renewal of the former phone monopoly's board. With its 24% slate, Vivendi was the main hurdle to a reappointment of the current CEO, who wants to press ahead with a revamp centred on a planned sale of TIM's fixed-line access network to U.S. fund KKR. The French media group, a TIM investor since 2015, made clear its frustration with the way the company has been run and repeated its opposition to the KKR deal but stopped short of backing an alternative candidate for CEO.
PARIS, April 22, 2024--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