Vivendi slams TIM's 'disastrous' performance since Elliott takeover

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(Telecompaper) French media giant Vivendi has slammed the performance of Telecom Italia (TIM) since activist fund Elliott seized control of the operator’s board in May. In a statement, the company said it’s “deeply concerned by the disastrous management of Telecom Italia” since Elliott took control, describing TIM’s market performance since then as “dramatic.” TIM’s share price has lost 35 percent since May, even though the fund had promised to double it within two years, added Vivendi, which remains largest shareholder with a 24 percent stake.
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