(Finance) – TIM “It can’t help contest the serious and unfounded allegations regarding the existence of hidden agreements between TIM and its shareholders in order to the list of the outgoing board and will immediately proceed to launch the appropriate initiatives, including those to protect the correct performance of share prices, also before the judicial authorities”. This can be read in a note from the telecommunications company after Bluebell Capital Partners has asked CONSOB to verify whether the list of the TIM board for the renewal of the Board of Directors “hides a hidden pact between some shareholders and the outgoing board of directors such that the funds and the CDP did not present autonomous lists in exchange for seeing their representatives included in the List of the Council (Gorno Tempini for the CDP; Camagni, Ferro-Luzzi and Carli for the funds)”.
“The circumstance that three directors appointed by the funds in 2021 with 1.2% of the capital will see their reconfirmation in the board’s list and that at the same time the Assogestioni funds have not presented an autonomous list in 2024″, observes the fund headed by Giuseppe Bivona, with similar considerations for CDP.
“It is completely normal for the outgoing board to collect quantum-qualitative evaluations from the members on the formation of the new board”, adds Bivona “but it is a very different thing to conclude hidden agreements aimed at convey votes preferentially to a list instead of on another to the detriment of all the other members, the other lists and the integrity of the market”.
“The formation of the Council list and the related discussions with the members or with associations representing them, have been duly documented and has been given extensive and timely information to the market – replies TIM – As for the request to CONSOB to “cancel the Board’s list” and “freeze the voting rights” of the shareholders allegedly involved in the hidden pact, TIM invites the shareholder to correct their declarations so that they are faithful and not misleading with respect to the reference regulatory framework”.
TIM, in confirming the legitimacy of its actions, invites Blubell Capital Partners to “not spread misleading information and not undertake clearly unfounded initiatives in one’s own exclusive interest which may disturb the correct conduct of the meeting”.