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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 CEST

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 -0.29% 0.6088 End-of-day quote.-15.50%
VIVENDI -1.16% 21.35 Real-time Quote.-3.66%
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Financials (€)
Sales 2018 19 310 M
EBIT 2018 3 891 M
Net income 2018 1 503 M
Debt 2018 25 538 M
Yield 2018 1,08%
P/E ratio 2018 9,10
P/E ratio 2019 8,16
EV / Sales 2018 1,97x
EV / Sales 2019 1,92x
Capitalization 12 498 M
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Technical analysis trends TELECOM ITALIA
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 0,87 €
Spread / Average Target 43%
EPS Revisions
Managers
NameTitle
Amos Genish Chief Executive Officer & 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-15.50%14 158
VERIZON COMMUNICATIONS-0.11%215 770
NIPPON TELEGRAPH AND TELEPHONE CORP-2.26%99 266
DEUTSCHE TELEKOM-4.87%75 619
TELEFONICA-8.50%43 835
SAUDI TELECOM COMPANY SJSC--.--%43 519