Sunday, 19 November 2017

TIM to take legal action against Vivendi control ruling

By Mary Lennighan, Total Telecom
Thursday 14 September 17

Consob rules French firm's ability to control TIM's board means it exercises de facto control over Italian incumbent

Italian market watchdog Consob has ruled that Vivendi exercises control over TIM, but the Italian telco said it plans to appeal. Consob published a lengthy document in which it outlined the findings of its investigation into Vivendi's sway at TIM. Essentially, it ruled that Vivendi can be considered to control TIM because it has sufficient voting rights to control the election of directors and the direction of ordinary shareholder meetings…

Italian market watchdog Consob has ruled that Vivendi exercises control over TIM, but the Italian telco said it plans to appeal. Consob published a lengthy document in which it outlined the findings of its investigation into Vivendi's sway at TIM. Essentially, it ruled that Vivendi can be considered to control TIM because it has sufficient voting rights to control the election of directors and the direction of ordinary shareholder meetings…

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