Vivendi passes from words to deeds and sends, as announced in recent days, the request to the Telecom Italia board of directors convocation of the assembly for the renewal of the auditors, for the removal of five independent directors in Elliott's share and the appointment of five other directors. Telecom's first shareholder proposes Franco Bernabè, Gabriele Galateri di Genola, Rob Van der Valk, Flavia Mazzarella and Francesco Vatalaro.
"The distrust of the CEO Amos Genish was assumed without any legal basis, in contrast with the applicable corporate procedures and in violation of any responsible governance practice". This was stated by Vivendi in the report addressed to Telecom Italia shareholders, according to what Radiocor writes, to illustrate the request to convene a meeting as soon as possible.
The French media company also points the finger "on the further violation of the rules with the appointment of a new managing director (namely Luigi Gubitosi, ed) without even respecting the ordinary procedure established by the plan for the succession of the managing director adopted by the company ”. Significantly, however, Vivendi does not ask for Gubitosi to be revoked even if, in the event of a change, his powers could pass to Bernabè.
In recent days, the former number one of Telecom Italia, Franco Bernabè, had argued, in an extensive interview with Sole 24 Ore, that the spin-off of the Tim network is no longer topical due to the development that Open has had in the meantime Fiber and that it would be more logical to think of the reverse operation, i.e. the sale or contribution of Open Fiber (50% controlled by Enel and 50% by CDP) to Tim itself or, in the impossibility of finding a fair agreement on the assets, seek a mutually beneficial collaboration between Tim and Open Fiber.
Yesterday the CEO of Enel, Francesco Starace, put his hands forward by denying the possibility of selling or conferring Open Fiber to Tim but the path of an advantageous operational collaboration between Tim and Open Fiber remains the wisest path to follow to avoid fratricidal fights between the two network infrastructures.
