ELLIOTT-ADVISORS
11.3.2019 08:02:14 CET | Business Wire | Press release
Elliott Advisors (UK) Limited, which advises funds (together “Elliott”) that have a substantial holding in the shares of Telecom Italia (“the Company”, or “TIM”), today published a new presentation and website at www.Time-For-TIM.com .
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190311005218/en/
Elliott’s presentation outlines the clear choice facing shareholders at the upcoming shareholder vote on March 29: a choice between stability and the continued recovery of Company value, or a return to Vivendi’s poor stewardship with its broken promises, track record of prolonged and pervasive value destruction, and contempt for good governance.
Ten months ago, those Telecom Italia shareholders that were not affiliated with Vivendi overwhelmingly voted for change, following years of mistreatment at the hands of a Vivendi-controlled Board that answered to only one shareholder. Underscoring the demand for improved governance, approximately 80% of the Company’s independent shareholders voted at the Company’s AGM on May 4 to release TIM from Vivendi’s control. In an effort to chart a new course, shareholders chose to appoint independent, credible and experienced new directors to serve on TIM’s Board.
Since losing this pivotal vote, Vivendi has increasingly demonstrated that its interests at TIM are misaligned with those of other stakeholders. Vivendi continues to disrespect the will of its fellow shareholders and has waged a series of aggressive, relentless attacks against the Company, the Board and other stakeholders. In so doing, it is obstructing the new management team’s ability to steer the Company back to stability and normality.
Vivendi has refused to enter into a constructive dialogue with Elliott, objected to the Board’s well-justified removal of TIM’s Vivendi-backed CEO Amos Genish last year, and has repeatedly threatened to continuously wage proxy fights until it successfully regains control of the Company. All of these actions are consistent with both Vivendi’s and its controlling shareholder Vincent Bolloré’s extensive track record of disdain for basic good governance practices.
Elliott believes Vivendi’s nominees are unsupportable, lack true independence, and would simply return control to a group with demonstrable conflicts of interest, related party transactions and a history of undermining TIM shareholders. Elliott believes it is time to give TIM and its independent Board stability and space to implement its strategy, to achieve much-needed reform and to deliver sustainable shareholder value. It is time for TIM to shake off the damaging management of the past and reaffirm its decision to move confidently into the future. It is time for TIM, in the words of its new CEO, to become a “normal company”.
In order to share its perspectives with its fellow shareholders, Elliott has today launched a new website, www.Time-For-TIM.com , where both the presentation and related materials are available to view and download. Interested parties are encouraged to visit the website to receive additional information and to sign up for future updates.
About Elliott
Elliott Management Corporation manages two multi-strategy funds which combined have approximately $34 billion of assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds of its kind under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Management Corporation.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190311005218/en/
Contact:
Media London Sarah Rajani CFA Elliott Advisors (UK) Limited +44 (0) 20 3009 1475 srajani@elliottadvisors.co.uk
Milan Marcella Verini Verini & Associates +39 (02) 4539 5500 mverini@verinieassociati.com
Paris Daphné Claude / Dominic Riding Steele & Holt +33 (0) 6 66 58 81 92 / +33 (0) 6 48 57 83 24 daphne@steeleandholt.com / dominic@steeleandholt.com
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Beerenberg Prevails in Patent Case Against Aspen Aerogels29.6.2026 07:00:00 CEST | Press release
The ruling confirms that Beerenberg did not infringe Aspen Aerogels’ patents. The Korean Patent Court has invalidated three of Aspen Aerogels’ patents related to improved hydrophobic aerogel material. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260628192007/en/ Beerenberg delivers high-end insulation solutions built for performance, reliability, and long-term value. (Photo: Beerenberg) The ruling confirms the conclusion of the Intellectual Property Trial and Appeal Board (IPTAB) that the patents did not meet the necessary requirements for patentability. Beerenberg, which specializes in high-end insulation products, welcomes the court’s decision. “We are pleased that the case has now been concluded and that any uncertainty regarding the infringement claims has been removed,” says CEO Arild Apelthun. About Beerenberg Beerenberg has delivered cost-efficient solutions to a wide range of industrial enterprises for 49 years. Th
Seiden Law LLP States: Cambodian Businessman Leak Yim, Wrongfully Accused in Thailand, Seeks Redress in U.S. Court29.6.2026 06:00:00 CEST | Press release
Seiden Law LLP (“Seiden Law”), legal counsel for Mr. Leak Yim, a Cambodia national, and his family, announces the filing of an application in U.S. federal district court in Washington D.C., seeking court-ordered discovery to uncover the false and misleading information that may have led to mistaken prosecution in Thailand of Mr. Yim as well as his unwarranted identification to Congress as being associated with scam centers in Asia. 28 U.S.C. § 1782 (“1782”) provides powerful evidence-gathering remedies, permitting an applicant to obtain evidence in the United States to assist international proceedings. Seiden Law, a U.S. law firm with significant experience in 1782 cases, has filed this application to compel production of documents and sworn testimony from persons in the U.S. that will shed light on the circumstances surrounding recent actions against Mr. Yim. “Mr. Yim and his young family are the apparent victims of guilt by association and political persecution,” said Robert Seiden,
Sultan Bin Ahmed Attends Media Master's Graduation in Spain28.6.2026 18:40:00 CEST | Press release
His Highness Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and President of the University of Sharjah (UOS), attended on Friday, at the University of Barcelona, the graduation ceremony of the first cohort of the Master of Science in Media Entrepreneurship and Digital Innovation programme, first of its kind, offered by the University of Sharjah's College of Communication in partnership with the University of Barcelona and with strategic support from Sharjah Media City (Shams). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260628429537/en/ Sultan Bin Ahmed attends Media Master's Graduation in Spain (Photo: AETOSWire) His Highness expressed his pride in their achievements and praised the strong partnership between the two universities, which share a commitment to knowledge, excellence and global understanding. His Highness stressed that graduation marks the beginning of a new journey rather than its con
VerSprite Launches Fork and Knife: AI-Driven Threat Modeling and Adversarial Testing Built for the Speed of Modern Software26.6.2026 23:28:00 CEST | Press release
Powered by the risk-centric PASTA methodology and two decades of accredited offensive security, the integrated platform lets enterprises threat model in a security sprint—then prove the risk through AI-led, human-on-the-loop testing. VerSprite, a global leader in risk-based threat modeling and the firm behind the PASTA (Process for Attack Simulation and Threat Analysis) methodology, today announced the general availability of Fork (www.forktm.com), a continuous application threat modeling platform, alongside Knife, an AI-led, human-on-the-loop adversarial testing platform for web applications and web API endpoints. Together, the two products operationalize a new model for product security—one where applications are securely designed, continuously modeled, and actively tested as part of the build process itself. The launch addresses a problem every security leader knows but few tools have solved: threat modeling is essential, never more so than in an AI-driven era, yet it has remained s
Venture Global Announces Closing of $1.5 Billion Senior Secured Vessel Financing Facility26.6.2026 22:30:00 CEST | Press release
Venture Global, Inc. (NYSE: VG) announced today that its wholly-owned subsidiary, Venture Global Shipping Holdings, LLC (“VGSH”), has entered into a Credit and Guaranty Agreement providing for a senior secured term loan facility (the “Facility”) in an aggregate principal amount of up to $1,500,000,000. The Facility will mature on June 26, 2032. Deutsche Bank and ING acted as coordinating lead arrangers for the Facility. ING also serves as facility agent and security trustee. VGSH intends to use the net proceeds from the Facility for general corporate purposes, including to reimburse Venture Global LNG, Inc. for payments previously made by it or its affiliates in connection with the acquisition of nine LNG carriers, funding certain reserve accounts, and paying transaction fees and expenses. About Venture Global Venture Global is an American producer and exporter of low-cost U.S. liquefied natural gas (“LNG”) with over 100 MTPA of capacity in production, construction, or development. Ven
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom