The campaign of Italy was transformed into a defeat in the open countryside for Vincent Bolloré and Vivendi, where he is a senior shareholder. The media group in france has lost, Friday, 4 may, the majority in the board of directors of Telecom Italia (TIM), of which it owns 24 % of the capital. At the end of a general meeting extraordinary shareholders, the hedge fund american Elliott, with 9 % of the capital, was elect 10 of the 15 directors, taking with 49,84 % of the vote against 47,18 % in favor of Vivendi.
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Clash of the titans of the financial markets around Telecom Italia
Selected by Elliott, the ten directors of Italian independents – among whom Luigi Gubitosi, director of Alitalia, and Fulvio Conti, ex-director general of Enel – make their input to the council, while Vivendi retains five representatives. Thus, Amos Genish, who is also the boss of TIM, and Arnaud de Puyfontaine, chairman of the management board of Vivendi continue to serve on the board. On the other hand, the media group had to give to other candidates of weight, to start by Franco Bernabe , ex-managing director of TIM, Frédéric Crépin, secretary-general of Vivendi, and Stéphane Roussel, the director-general in charge of operations, and keep only three other independent directors.
Campaign of destabilization