financetom
Technology
financetom
/
Technology
/
Court to hear Vivendi's challenge to TIM network sale on May 21, sources say
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Court to hear Vivendi's challenge to TIM network sale on May 21, sources say
Mar 4, 2024 10:47 PM

MILAN (Reuters) - A first hearing on the case filed by Telecom Italia's (TIM) top investor Vivendi 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)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
IT services provider CACI International to buy Azure Summit Technology for $1.28 bln
IT services provider CACI International to buy Azure Summit Technology for $1.28 bln
Sep 16, 2024
Sept 16 (Reuters) - IT services provider CACI International ( CACI ) said on Monday it would buy software firm Azure Summit Technology for $1.28 billion in cash. (Reporting by Jaspreet Singh in Bengaluru) ...
Intel gets up to $3 billion from US for national security related chip production
Intel gets up to $3 billion from US for national security related chip production
Sep 16, 2024
(Reuters) -The Biden Administration on Monday awarded Intel Corp. up to $3 billion from the CHIPS and Science Act to develop a Secure Enclave for microelectronics, which are a critical component to a wide range of weapon systems and other national security products. Shares of Intel were 4% after the announcement. The award pushes forward the administration's commitment to re-shore...
Jeff Bezos And Elon Musk Set To Battle For Dominance In The Sky: Amazon Gears Up To Launch Over 3,000 Low-Earth Orbit Satellites
Jeff Bezos And Elon Musk Set To Battle For Dominance In The Sky: Amazon Gears Up To Launch Over 3,000 Low-Earth Orbit Satellites
Sep 16, 2024
Amazon Inc. is preparing to dispatch hundreds of small satellites into orbit, setting the stage for a face-off with Elon Musk‘s SpaceX in the U.K.’s airspace. What Happened: Amazon ( AMZN ) is planning to launch over 3,000 low-Earth-orbit satellites to provide internet connectivity to remote areas, The Telegraph reported on Monday. The first rocket mission is slated for the...
Where TechTarget Stands With Analysts
Where TechTarget Stands With Analysts
Sep 16, 2024
During the last three months, 4 analysts shared their evaluations of TechTarget ( TTGT ) , revealing diverse outlooks from bullish to bearish. The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2...
Copyright 2023-2026 - www.financetom.com All Rights Reserved