Italian Government Uses ‘golden Power’ To Challenge Vivendi Control Of TIM
The government, in particular, decided to exercise the golden power after the Italian financial services authority Consob ruled that Vivendi had reached a position such to hold a “de facto control” of Telecom Italia-TIM via a 24% stake and two-thirds of the company's board members, a finding that Vivendi challenged in ... HERE
However, "it is not seeking to and will not seek control of Telecom Italia." TIM Chairman Arnaud de Puyfontaine, who is also Vivendi's CEO, said the company ... Finally, news flow on Elliott could add some speculative appeal," Mediobanca ... Italy's government eventually used the so-called "golden power" last year to ensure.... On 16 October 2017, the Italian government notified Telecom Italia that it had exercised its golden power amid concerns about French media group Vivendi's control over the Italian telecoms incumbent. ... Both decisions were met with legal challenges from Telecom Italia and Vivendi, meaning that.... The declining relationship with the Italian government, ... We welcome Elliott's intention to challenge Vivendi's direction and ... Vivendi can use and has used control of TIM to generate profits ... No Golden Power Notification - the law requiring companies to notify the government of activities deemed to.... ROME, May 23 (Reuters) - An Italian court extended on Thursday the suspension of a 74.3-million-euro ($82.69 million) fine against Telecom Italia for failing to notify the government its main shareholder Vivendi had effective control, a preliminary court ruling said. HERE
Piergiorgio PELUSO. Head of Administration, Finance and Control. TIM S.p.A. ... means the Vivendi S.A. a limited liability company (socit anonyme) ... Telecommunications operators have generally faced challenging market conditions in recent ... veto power by the Italian Government (including through the imposition of.... Regulator: Vivendi has de facto control of TIM ... The Italian government could also choose to use 'golden powers' which allow it to veto ... According to a report from Reuters, Vivendi plans to appeal the regulator's decision.. Italy court extends suspension of TIM fine over Vivendi control. ... October 2017 the so-called "golden power", allowing the government to veto ... HC and are challenging that the government can't charge indirect tax for doing its duty. ... GSMA study reveals gender gap in mobile internet usage Continue to... 3
TIM is currently facing significant challenges. ... Elliott doesn't want to control TIM1, Elliott is just a shareholder1 ... Elliott trusts shareholders will join it in setting the right conditions [] ... public positions: in 1999, he was appointed by the Prime Minister as special representative of the Italian government.. TIM confirms appeal over Vivendi position. 21 Sep 2017. Italy ... a regulatory ruling that says French firm Vivendi has de facto control of the Italian telco. ... The Italian government could also choose to use 'golden powers' which allow it to veto.... Vivendi has reportedly written to the Italian prime minister's office in an ... off the threat of the Italian government wielding its so-called 'golden power' to veto ... pointed out that Vivendi has not merged with TIM or challenged its remit and ... markets regulator CONSOB that it does not exercise control over TIM,.... TIM has lost a quarter of its market value since Vivendi first took a stake in ... and Rome eventually decided to use its so-called "golden powers" to ... The French company is also facing a challenge from activist hedge ... To increase its influence, the government bought a 4.262 percent stake in TIM through its.... However, "it is not seeking to and will not seek control of Telecom Italia." TIM Chairman Arnaud de Puyfontaine, who is also Vivendi's CEO, said the company ... Finally, news flow on Elliott could add some speculative appeal," ... Italy's government eventually used the so-called "golden power" last year to... eff9728655 4
... has challenged the way TIM's biggest shareholder, France's Vivendi, ... Italy's power grab at Telecom Italia leaves investors with two messy ... government and Rome eventually used its so-... HERE
