Vivendi asks for further investigation into TIM auditor’s report
Written by Maga First News on March 15, 2019
FILE PHOTO: Telecom Italia new logo is seen at the headquarter in Rozzano neighbourhood of Milan, Italy, May 25, 2016. REUTERS/Stefano Rellandini//File Photo
March 15, 2019
MILAN (Reuters) – France’s Vivendi, which is Telecom Italia (TIM) top shareholder, urged Italian market watchdog and TIM’s auditors to further investigate what it called governance issues at the Italian group.
The French media group and activist investor Elliott, which owns just under 10 pct of TIM, are at loggerheads over the Italian group’s governance and management.
Vivendi is seeking the removal of TIM Chairman Fulvio Conti and four other board members and cites the fact that TIM’s auditors said in a report they found irregularities in the way information was shared with the company’s board members in the run-up to the ousting of Chief Executive Amos Genish.
TIM’s board on Thursday rejected the report issued by the group’s auditors.
(Reporting by Francesca Landini, editing by Louise Heavens)