Italy supreme court upholds nullity of ruling over Vivendi's control of TIM

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Italy supreme court upholds nullity of ruling over Vivendi's control of TIM
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MILAN : Italy's supreme court upheld a ruling which had annulled a market regulator's resolution indicating French media group Vivendi was exercising 'de facto control' of Telecom Italia (TIM), a court document showed on Wednesday.Italian market watchdog Consob ruled that Vivendi, TIM's top shareholder wi

MILAN : Italy's supreme court upheld a ruling which had annulled a market regulator's resolution indicating French media group Vivendi was exercising 'de facto control' of Telecom Italia , a court document showed on Wednesday.

The ruling, published on Tuesday, could give the French group the option to present its own list of candidates to win TIM's board control without being compelled to consolidate the former phone monopoly's financial accounts, including its 25.5 billion euro debt pile. In 2021, Vivendi and Italy's state lender CDP both backed a slate of candidates presented by TIM's board.

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