(AOF) – Vivendi indicated that it had decided to abstain during the vote on the renewal of the board of directors of Telecom Italia at the general meeting of April 23, 2024. The French group underlines that “the list of candidates presented by the Board outgoing “(…)” is a continuation of a council during which the stock price lost half of its value and which took responsibility for approving the sale of the TIM fixed network in November 2023”.
For Vivendi, this price does not reflect “the true value of this asset”. The council has not “to date, provided exhaustive and reliable information to the market regarding this operation and its effects on the sustainability of TIM”, adds the French group.
Vivendi does not “wish to be associated with decisions regarding appointments to the board, considering that it is up to the current management and its supporters to unravel the delicate situation in which TIM currently finds itself.”
The French group specifies that it “will firmly pursue its action against the council resolution of November 2023 before the Milan court and any other legal means at its disposal to protect its rights”.