Telecom Italia SpA (TLITn.MI)
18 May 2018
PARIS Vivendi shares fell on Friday after the media group disappointed investors with first quarter sales below expectations, a lack of details over plans for its UMG music business and new tensions over Telecom Italia .
* New clashes over Telecom Italia also looming (adds brokers comments, details)
MILAN, May 18 Telecom Italia (TIM) shares fell on Friday after Berenberg downgraded Italy's biggest phone group to "sell" from "hold", citing pressure from pending new competition, political headwinds and governance issues.
PARIS, May 18 Vivendi shares fell on Friday after reporting first quarter results that some analysts said came below expectations, and on some disappointment over a lack of more precise details on plans for its UMG music arm.
The following factors could affect Italian markets on Friday.
May 17 The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:
PARIS French media group Vivendi resumed hostilities over Telecom Italia on Thursday with a threat to call a new shareholder meeting to change the Italian company's board, two weeks after it lost control to U.S. activist fund Elliott.
* Q1 group revenue up 3.3 pct (Recasts story, adds background, details)
PARIS, May 17 Vivendi will review a potential change in the shareholding structure of its music unit, the media giant said in a statement on Thursday.
MILAN Telecom Italia (TIM) Chief Executive Amos Genish feels he has the full support of the board to push ahead with his three-year strategy plan and proposals put forward by activist fund Elliott are not being discussed, he said on Thursday.