No agreement between Tim and Elliott after yesterday's meeting in London between the CEO of the telephone company, Amos Genish, and the representatives of the American fund, determined to launch an open challenge to Tim on governance, investing and seeking allies in view of the meeting of April 24, for which they are already preparing their list of candidates.
According to rumors, the representatives of the Elliott fund would have contested the budget numbers and Tim's new strategic plan, but above all they would have distanced themselves on governance to prepare for the challenge in the April meeting. That Elliott is serious can be deduced from the fact that so far it has invested 800 million to buy 4,9% of ordinary shares and 3% of savings shares of Tim, which does not rule out further growth to just under 10% and that he is looking for allies.
Already in recent days the Elliott fund would have had contacts with Norges and BlackRock which together represent 9% of Tim: if the front of the three groups were to unite, the main shareholder of the telephone company - that is, the French of Vivendi who have invested in all 3,89 23,9 billion euros and who hold 2017% – could have more than one problem in the shareholders' meeting, where in addition to the XNUMX financial statements and the remuneration of managers, the appointment of a new director should be on the agenda, to replace the outgoing vice president, Giuseppe Recchi.
In short, the games are open and whoever benefits from it is Tim's stock on the Stock Exchange, where it has been sparking for days.
