LONDEN–(BUSINESS WIRE)– Elliott Advisors (UK) Limited (Elliott) heeft een belang genomen in Telecom Italia, in de vorm van gewone aandelen en aandelen zonder stemrecht. De positie in gewone aandelen is op dit moment zodanig dat de door de Italiaanse wet voorgeschreven grens voor verplichte openbaarmaking niet wordt overschreden.

Als investeerder in Telecom Italia heeft Elliot veel tijd en middelen gestoken in de analyse van het bedrijf en zijn strategische alternatieven. In de visie van Elliot wordt het bestuur, de taxatie, strategische koers en verhouding met de Italiaanse overheid  beter als bepaalde bestuursleden worden vervangen door nieuwe, autonomie en hoog aangeschreven bestuurders. Elliot onderneemt daarom actie om dat doel te bereiken.

Elliott Advisors (UK) Limited Has an Interest in Ordinary and Saving Shares of Telecom Italia

LONDON–(BUSINESS WIRE)– Elliott Advisors (UK) Limited (“Elliott”) has an interest in ordinary and saving shares of Telecom Italia. The position in ordinary shares is such that it does not exceed, as of today, the thresholds mandating disclosure under applicable Italian laws.

As an investor in Telecom Italia, Elliott has spent significant time and resources in recent months analysing the company and its strategic alternatives. In Elliott’s view, Telecom Italia’s governance, valuation, strategic direction and relationships with Italian authorities would be improved by replacing certain members of the board with new, fully independent and highly qualified directors. Accordingly, Elliott is considering taking steps towards achieving that goal.

Although Elliott may further increase its interest in Telecom Italia (in which event it will disclose any threshold being crossed in compliance with applicable Italian laws), it is not seeking to and will not seek control of Telecom Italia.

About Elliott

Founded in 1977, Elliott Management Corporation is one of the oldest private investment firms of its kind under continuous management. The firm’s investors include pension funds, private endowments, charitable foundations, family offices, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Management Corporation.

View source version on businesswire.com: http://www.businesswire.com/news/home/20180306006597/en/

Contacts

Elliott Advisors (UK) Limited
Sarah Rajani CFA, +44 (0) 20 3009 1475
srajani@elliottadvisors.co.uk
or
Verini & Associati
Marcella Verini, +39 02 45395500
mverini@verinieassociati.com