Vivendi's journey within Telecom Italia continues to be enriched with problems and criticalities. In fact, Consob communicated that it has focused the spotlight on the internal committees of the telecommunications company, those that allow the correct functioning of the board of directors.
According to the authority, only "independent personalities" should sit on these committees. Therefore, two representatives of Vivendi without the necessary requisites for independence are at risk, Philippe Hervé and Frederic Crepin, who reside on the Appointments and Remuneration Committee.
Consob acted at the request of the Presidency of the Council, which in recent weeks has been analyzing the shareholding of the French company, verifying its real control. Vivendi currently has nine out of 14 directors and a relative majority of the shares (23,94%).
The authority's note raises strong doubts about the role and weight of Vivendi in Telecom Italia. Consob also recalls that the entire Telecom Italia board of directors should have a majority of independents, but this condition seems to be respected given that Bernabè, Herzog, Moretti, Antonini and Jones all have the name of independents, despite being members of the Vivendi list.
