![\"\"](\"\/\/www.iser-br.com\/Themes\/Release\/images\/responsive\/ettelecom-default.jpg\")
Elliott wrestled TIM board control from Vivendi in May after a two-month campaign to shake up the way the French group had been running the former telecoms monopoly.
Besides a governance overhaul, the activist fund had proposed a spin-off and partial sale of a soon-to-be-created network company, a conversion of savings shares, a return to dividends and asset sales.
TIM's share price has lost 35 percent since Elliott took control in May, while the fund had promised to double it within two years, Vivendi said in a statement.
Vivendi blamed the company's management for the performance. It added TIM's governance was \"failing\" and said the company and its results were suffering as a result.
Vivendi, TIM's largest shareholder with a 24 percent stake, said, however, it remained convinced that the company had strong potential.
TIM Chairman Fulvio Conti, appointed in May with the support of Elliott, rejected Vivendi's accusations, calling them \"absurd and unfounded\".
\"Since its appointment, the board, in its entirety, has been and still is working to implement the strategic plan put in place by Vivendi,\" Conti said in a statement.
He added that TIM, Italy's biggest phone group with about 50,000 employees, was in a position to face market developments and its competitors.
TIM CEO Amos Genish, appointed when Vivendi controlled the board, is looking to execute a three-year turnaround plan focusing on a digital transformation, fixing the group's finances and getting back an investment grade credit rating.
However, the former state phone monopoly has been facing growing challenges in both fixed and mobile: broadband group Open Fiber is rolling out a rival fiber optic network while French telecoms group Iliad in May launched its low-price mobile offer for Italy. (Reporting by Inti Landauro; Additional reporting by Agnieszka Flak; Editing by Leigh Thomas and Janet Lawrence)
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- Telecom乐动扑克News
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威望迪蒂姆•艾略特接管以来的表现表示“灾难性的”
法国媒体巨头Vivendi周三表示,意大利电信(TIM)的管理一直以来“灾难性的”维权基金艾略特控制了意大利公司的董事会
艾略特在蒂姆从五月的威望迪董事会控制运动,两个月后重组的方式运行前的法国集团一直电信垄断。
除了治理改革,维权基金提出了一个分拆和部分出售soon-to-be-created网络公司、储蓄股份的转换,回到股息和资产出售。
蒂姆的股价已经下跌35%以来艾略特5月控制了,尽管imf承诺这两年内翻倍,威望迪在一份声明中说。
威望迪指责该公司的管理性能。它增加了蒂姆的治理是“失败的”,并表示该公司及其结果的痛苦。
威望迪,蒂姆的最大股东,持股24%,说,不过,它仍然相信公司有很强的潜力。
蒂姆,孔蒂主席任命与艾略特的支持,可能会拒绝威望迪的指控,称他们“荒谬和没有根据的”。
“约会以来,董事会的,已经和仍是努力实现威望迪的战略计划到位,”孔蒂在一份声明中说。
他补充说,蒂姆,意大利最大的手机集团约有50000名员工,在面对市场发展和竞争对手。
蒂姆·阿莫斯Genish CEO任命威望迪控制董事会的时候,正在执行一项为期三年的转型计划聚焦于一个数字转换、修复组织的财政和恢复一个投资级信用评级。
然而,前国有电话垄断一直面对越来越多的挑战在固定和移动宽带集团开放纤维推出光纤网络的竞争对手在法国电信集团《伊利亚特》5月推出低价手机提供意大利。(完印锑Landauro;阿格涅斯卡抨击额外的报告;由利托马斯和珍妮特·劳伦斯编辑)
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