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Business & Finance

Vivendi says Elliott's support of Telecom Italia CEO is inconsistent

Published April 26, 2018 Updated April 26, 2018 02:44pm
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By Shoaib Ur RehmanReuters
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PARIS: Vivendi said on Thursday that a vote by activist fund Elliott Advisors in favour of Telecom Italia's boss Amos Genish on April 24 showed its "inconsistency".

Genish was backed by nearly all shareholders at a general meeting on Tuesday.

Elliott has built a stake of 9 percent in the former state telecom monopoly to try to shake up the way the French media group - which owns 24 percent - runs it.

"Vivendi notes the inconsistency of the activist fund Elliott Advisors in voting for Amos Genish on April 24, even though it contests the industrial plan which both he and all his management team support," the group said in a document online.

Elliott had not immediate comment to make.

Copyright Reuters, 2018
 

 

 

 

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