English
French
German
Italian
Russian
Spanish
Court to hear Vivendi’s challenge to TIM network sale on May 21, sources say
Court to hear Vivendi’s challenge to TIM network sale on May 21, sources say By Reuters
Breaking News
‘;
Published Mar 01, 2024 09:49AM ET
Updated Mar 01, 2024 10:10AM ET
© Reuters. FILE PHOTO: The logo of French media giant Vivendi is seen in Paris, France, February 16, 2024. REUTERS/Gonzalo Fuentes/File Photo
MILAN (Reuters) – A first hearing on the case filed by Telecom Italia (BIT:TLIT)’s (TIM) top investor Vivendi (OTC:VIVHY) against the sale of the former phone monopoly’s fixed network to U.S. fund KKR has been scheduled for May 21, two legal sources told Reuters.
Worth up to 22 billion euros ($23.79 billion) and blessed by the Italian government, the sale is a key plank of the strategy planned by TIM’s head Pietro Labriola to revamp the telecoms firm.
Vivendi, which was seeking a higher price, has filed a complaint with a Milan court to challenge the TIM board’s decision to sell the network without a shareholder vote.
In its complaint Vivendi had sought April 22 as the date to hold the first hearing on the case, a day before TIM’s annual general meeting, sources have previously said.
TIM declined to comment. Vivendi was not immediately available.
($1 = 0.9249 euros)
Court to hear Vivendi’s challenge to TIM network sale on May 21, sources say
Terms And Conditions
Privacy Policy
Risk Warning
Do not sell my personal information
© 2007-2024 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
