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Free AccessTelecom Italia Responds To Report Of Activist Complaint To Regulator
- BBG reported last night that Bluebell Capital Partners has filed a formal complaint to the Italian regulator, asking it to invalidate the board slate led by CEO Pietro Labriola and freeze certain shareholders' voting rights.
- Issue centres around undisclosed support for the CEO’s slate by major shareholders including Cassa Depositi e Prestiti (CDP) and other funds, representing over 11% of Telecom Italia’s capital.
- Telecom Italia has issued a statement denying the allegations claiming that agreements around the proposed slate were fully documented and transparent, and info was provided timely to the market.
- Telecom Italia claims to have no evidence that a formal complaint has even been submitted and “will immediately proceed to take the appropriate initiatives…even in front of the judicial authorities”.
- AGM comes on 23 April.
- EUR spreads muted in early trading.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.