Telecom Italia and Vivendi
05 Septembre 2018 - 6:29PM
Business Wire
Regulatory News:
Vivendi (Paris:VIV) is deeply concerned by the disastrous
management of Telecom Italia (TIM) since Elliott took control of
its Board of Directors following the May 4, 2018 Shareholders
Meeting:
- The stock market performance is
dramatic: TIM’s share price dropped about 35% since May 4, 2018,
and is at its lowest level in five years while in its April 9, 2018
position paper, Elliott promised a doubling of the share price over
the next two years.
- The new governance team is failing: the
spreading of rumors (including the departure of the CEO) is causing
dysfunction that is harmful to the smooth operation and results of
TIM.
Vivendi, its largest shareholder with 24% of the shares, remains
convinced of TIM’s significant development potential.
About Vivendi
Since 2014, Vivendi has been focused on building a world-class
content, media and communications group with European roots. The
clear and ambitious strategy that was set in motion three years ago
has been successfully executed by the Management Board. First, in
content creation, Vivendi owns powerful, complementary assets in
music (Universal Music Group), mobile games (Gameloft) as well as
movies and series (Canal+ Group), which are the three most popular
forms of entertainment content in the world today. Second, in the
distribution market, Vivendi has acquired the Dailymotion platform
and repositioned it to create a new digital showcase for its
content. The Group has also joined forces with several telecom
operators and platforms to maximize the reach of its distribution
networks. In 2017, a third building block – communications – was
added to this structure, via Havas. Havas possesses unique creative
expertise in promoting free content and producing short formats,
which are increasingly viewed on mobile devices. In addition,
through Vivendi Village, the Group explores new forms of business
in live entertainment, franchises, ticketing and digital technology
that are complementary to its core activities. Vivendi’s various
businesses cohesively work together as an integrated industrial
group to create greater value. www.vivendi.com,
www.cultureswithvivendi.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180905005772/en/
Vivendi
Vivendi (EU:VIV)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Vivendi (EU:VIV)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024