on 29 May board on the appointment of the director - Corriere.it

on 29 May board on the appointment of the director - Corriere.it


Tim has convened a board meeting for May 29, responding to the request of directors Marella Moretti, Cristiana Falcone and Giulio Gallazzi who had written a letter to Tim's chairman asking for an extraordinary board meeting to appoint Carta. On the agenda, according to what has been learned, there is in fact the co-option of a new director. Therefore, the time to reassemble the board of the TLC group is getting shorter after Arnaud de Puyfontaine, CEO of Vivendi and the first shareholder with 23.74% of Tim, resigned in January. The nomination committee which met last Monday opened the examination of Luciano Carta's candidacy. Leonardo's former president liked not only the French but also the government. The next board was scheduled for June 22, a date in which the dossier for the sale of Tim's single network will have already been closed and therefore too late for the French.

May 9th deadline

The deadline set by the board of the Italian TLC group to evaluate the improved offers expires on 9 June. Also on Monday, Tim received the letter from the CDP-Macquarie consortium concerning the clarifications requested on the antitrust restrictions. Their offer presented in early May puts 19.8 billion on the plate for the asset. The second bidder, the Kkr fund, will send the new offer (the last offer indicated a value of 21 billion) probably within the deadline. For Vivendi, the asset is worth about 10 billion more. Cdp, which owns 9.8% of Tim, is in dialogue with the European Antitrust authorities to see which assets it should sell in the event of the acquisition of the Tim network, but according to what CEO Dario Scannapieco declared to Bloomberg TV a week ago, too early to tell where the landing point will be. The offer presented with the Australian fund Macquarie (with which Cdp is the majority shareholder in Open Fiber) expires on May 31st. From June 1 the games could reopen. In an interview with Class CNBC, also last Monday, Tim's CEO Pietro Labriola called for dialogue between all shareholders. On the turnaround for Tim's network (+ 0.73% yesterday on a 0.5% drop in Piazza Affari), he said: We are optimistic.



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