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
Venture Global Announces Closing of $2.25 Billion of Senior Secured Notes11.6.2026 23:00:00 CEST | Press release
Venture Global LNG, Inc. (“Venture Global”) announced today that its wholly-owned subsidiary, Venture Global LNG, Inc. (the “Issuer”) has closed its offering of $1.125 billion aggregate principal amount of its 6.375% senior secured notes due 2034 (the “2034 Notes”) and $1.125 billion aggregate principal amount of its 6.625% senior secured notes due 2036 (the “2036 Notes” and, together with the 2034 Notes, the “Notes”). The Issuer used the gross proceeds from the offering to redeem all of the Issuer’s outstanding 8.125% senior secured notes due 2028 (the “Existing 2028 Notes”) and used cash on hand to pay the redemption premium and related fees and expenses for the offering and the redemption. The 2034 Notes will mature on December 15, 2034, and the 2036 Notes will mature on June 15, 2036. The Notes were issued at par. The Notes will initially not be guaranteed by any of the Issuer’s subsidiaries. In the future, certain of the Issuer’s subsidiaries that incur or guarantee certain amount
Venture Global and Atlantic-SEE Announce Expansion of Long-Term LNG Sales and Purchase Agreement with Greece11.6.2026 22:30:00 CEST | Press release
Deal doubles quantity of US LNG to be supplied by Venture Global, expanding existing partnership to bolster Central and Eastern European energy securityBuilds on Venture Global’s regasification capacity investment in the Alexandroupolis LNG import terminal to supply U.S. LNG to the region Today, Venture Global, Inc. (NYSE: VG) and ATLANTIC – SEE LNG TRADE S.A. of Greece announced an expansion of their existing Sales and Purchase Agreement (SPA) for the purchase of U.S. liquefied natural gas (LNG) from Venture Global for twenty years starting in 2030. Under the deal, Atlantic-SEE is doubling their existing contract with Venture Global from a minimum of 0.5 million tonnes per annum (MTPA) to 1.0 million tonnes per annum (MTPA). Atlantic-SEE LNG is a newly formed joint venture announced in November at the 6th Partnership for Transatlantic Energy Cooperation (PTEC) conference hosted in Athens, Greece between Greek companies AKTOR Group and DEPA Commercial. The announcement of this expanded
Merrithew® Expands Global Mindful Movement Leadership with Acquisition of the GYROTONIC® Organization11.6.2026 17:30:00 CEST | Press release
Strategic acquisition strengthens Merrithew International Inc.’s position as a leading global authority in mindful movement education, equipment, and wellness Merrithew®, a global leader in mindful movement education and equipment and creator of internationally recognized programs including STOTT PILATES®, ZEN•GA®, Halo® Training and Total Barre®, today announced the acquisition of the GYROTONIC® organization, creator of the globally respected GYROTONIC® and GYROKINESIS® methods. Founded by Juliu Horvath, the GYROTONIC® and GYROKINESIS® methods are internationally recognized for their distinctive approach to movement, combining fluidity, strength, mobility, coordination, and rehabilitation through specialized equipment and movement sequences. Practiced in studios and wellness centers worldwide, the methods have cultivated a deeply loyal global community of instructors, trainers, therapists, and movement professionals. The acquisition marks a significant milestone in Merrithew Internati
GigaDevice Expands Optical Communication Portfolio with New GD32E512 and GD32E252 Series MCUs for Optical Modules11.6.2026 16:00:00 CEST | Press release
GigaDevice, a leading semiconductor company specializing in Flash memory, 32-bit microcontrollers (MCUs), sensors, and analog products, has introduced the new GD32E512 and GD32E252 series MCUs specifically designed for optical module applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260611850679/en/ Empowering Optical Interconnect Innovation, GigaDevice Unveils Dedicated MCUs for Optical Modules. As a leading supplier of MCUs for optical module applications, GigaDevice has maintained a strong focus on the optical communication market, continuously aligning its product development with evolving industry requirements and next-generation optical interconnect technologies. Leveraging years of expertise in optical module control solutions, GigaDevice has established a strong position in the market through continuous innovation and close collaboration with industry partners. To further support the advancement of high-sp
Saudi Arabia at the Center of the Global Water Industry as IDWS 2026 Reshapes the Future of Water11.6.2026 15:47:00 CEST | Press release
In an increasingly resource-constrained world, water has become critical to both economic growth and national security, driving demand for global leadership in sustainability, innovation, and water solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260611388456/en/ Saudi Arabia at the Center of the Global Water Industry as IDWS 2026 Reshapes the Future of Water (Graphic: AETOSWire) The Saudi Water Authority has announced the return of the Innovation Driven Water Sustainability Conference (IDWS), taking place from 7 to 9 December 2026 at The Ritz-Carlton, Jeddah, as the Kingdom consolidates its position at the center of the global water conversation. As home to one of the world’s most advanced and rapidly evolving water management ecosystems, Saudi Arabia currently operates more than 500 water production facilities across the Kingdom with total water production capacity exceeding 16.2 million cubic meters per day. The
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