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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Telecom Italia    TIT   IT0003497168

TELECOM ITALIA (TIT)
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Telecom Italia : Elliott stops proxy solicitation for Telecom Italia AGM given uncertainty caused by legal action

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04/23/2018 | 10:48am CET

MILAN (Reuters) - Elliott said it had stopped soliciting proxies for Telecom Italia's (TIM) April 24 shareholder meeting due to the uncertainty that arose after the phone group asked a judge to rule on additions to the AGM proposed by the activist investor.

MILAN (Reuters) - Elliott said it had stopped soliciting proxies for Telecom Italia April 24 shareholder meeting due to the uncertainty that arose after the phone group asked a judge to rule on additions to the AGM proposed by the activist investor.

Elliott, now TIM's second-largest investor with a 9 percent stake, is pushing for a shake-up of the way Vivendi has been running the Italian phone incumbent. It is seeking to replace six of Vivendi-nominated board members at a shareholder meeting on Tuesday to improve governance, valuation and strategy.

TIM's statutory auditors included Elliott's proposal in the agenda for the April meeting - a decision TIM's board is now challenging in court.

(Reporting by Agnieszka Flak)

Stocks mentioned in the article
ChangeLast1st jan.
TELECOM ITALIA -2.11% 0.5482 End-of-day quote.-23.91%
VIVENDI 1.19% 21.18 Real-time Quote.-6.65%
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Financials (€)
Sales 2018 19 181 M
EBIT 2018 3 745 M
Net income 2018 -436 M
Debt 2018 25 637 M
Yield 2018 0,40%
P/E ratio 2018 -
P/E ratio 2019 7,67
EV / Sales 2018 1,92x
EV / Sales 2019 1,87x
Capitalization 11 158 M
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 0,69 €
Spread / Average Target 26%
EPS Revisions
Managers
NameTitle
Luigi Gubitosi Chief Executive Officer & Executive Director
Fulvio Conti Chairman
Piergiorgio Peluso CFO, Head-Administration, Finance & Control
Roberto Mazzilli Head-Information Technology & Security Compliance
Elisabetta Romano Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
TELECOM ITALIA-23.91%12 679
VERIZON COMMUNICATIONS8.97%240 773
DEUTSCHE TELEKOM1.28%81 073
NIPPON TELEGRAPH AND TELEPHONE CORP-14.78%79 189
SAUDI TELECOM COMPANY SJSC--.--%45 051
TELEFONICA-6.87%44 642