Business Wire

Elliott Advisors (UK) Limited Statement on Telecom Italia

Share

Elliott Advisors welcomes today’s positive step forward for corporate governance at Telecom Italia (“TIM” or the “Company”). Today’s win for the independent slate sends a powerful signal to Italy and beyond that engaged investors will not accept substandard corporate governance, paving the way for maximising value creation for all TIM’s stakeholders.

Elliott remains fully supportive of CEO Mr. Amos Genish and the entire management team and is fully aligned with Mr. Genish’s business plan. Elliott now looks forward to constructive dialogue and thoughtful consideration by TIM’s independent board and management team of Elliott’s various value creation proposals, including the reinstatement of the dividend at the appropriate time, exploring alternatives regarding Netco following legal separation, and the potential for a savings share conversion. TIM’s newly elected independent board can now properly consider these measures and more without the disproportionate influence from a single shareholder.

Today’s landmark vote represents a victory for all shareholders and opens a new chapter for TIM, in which the Company can build upon a foundation of improved governance to secure sustained value creation for all stakeholders.

About Elliott

Elliott Management Corporation manages two multi-strategy funds which combined have approximately $35 billion of assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds of its kind under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Management Corporation.

Contact information

Media Contacts
London
Sarah Rajani CFA
Elliott Advisors (UK) Limited
+44 (0) 20 3009 1475
srajani@elliottadvisors.co.uk
or
Milan
Marcella Verini
Verini & Associates
+39 (02) 4539 5500
mverini@verinieassociati.com
or
Paris
Daphne Claude / Dominic Riding
Steele & Holt
+33 (0) 6 66 58 81 92 / +33 (0) 6 48 57 83 24
daphne@steeleandholt.com / dominic@steeleandholt.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

IDEMIA Will Present Its H1 2019 Financial Results to Investors on July 30, 201923.7.2019 07:00:00 CESTPress release

IDEMIA, the world leader in Augmented Identity, today announced that it will present its H1 2019 financial results to investors on Tuesday July 30, 2019. Yann Delabrière (CEO) and Laurent Lemaire (CFO) will be presenting the financial results and taking questions the same day at 3:30 pm CET (2:30 pm London Time / 9:30 am New York Time). For more information, please refer to our website: https://investors.idemia.com/ About IDEMIA IDEMIA, the global leader in Augmented Identity, provides a trusted environment enabling citizens and consumers alike to perform their daily critical activities (such as pay, connect and travel), in the physical as well as digital space. Securing our identity has become mission critical in the world we live in today. By standing for Augmented Identity, an identity that ensures privacy and trust and guarantees secure, authenticated and verifiable transactions, we reinvent the way we think, produce, use and protect one of our greatest assets – our identity – whet

Gain Therapeutics SA Announces Award Notification of a €1.4M Grant Support From Eurostars-2 Together With the Institute for Research in Biomedicine and Neuro-Sys SAS After Having Scored 2nd Among 325 Eligible Applications23.7.2019 06:30:00 CESTPress release

Gain Therapeutics SA, a biotechnology company discovering and developing novel therapeutics to target lysosomal enzymes involved in inborn errors of metabolism and in central nervous system (CNS) diseases, today announced that together with Dr. Maurizio Molinari from the Institute for Research in Biomedicine, Bellinzona (Switzerland) affiliated to the Università della Svizzera italiana (USI) and Neuro-Sys SAS in Gardanne (France), it has received funding support from Eurostars-2 joint programme with co-funding from the European Union Horizon 2020 research and Innosuisse – Swiss Innovation Agency. This grant will further strengthen Gain Therapeutics’s novel therapeutic approach for targeting rare diseases in the CNS, where lysosomal misfolded enzymes lead to sever clinical phenotypes, where no treatment is available and/or high unmet medical needs still do afflict patients, families and carers. This funding will support the development of the drugs portfolio of Gain Therapeutics for the

iBASIS Accelerates Growth With JC Geha as Chief Operating Officer23.7.2019 06:00:00 CESTPress release

iBASIS, provider of communications solutions for operators and digital players worldwide, today announced the appointment of JC Geha as its COO. He will take his new post effective August 1, and be based at iBASIS’ headquarters in Lexington, Massachusetts. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190722005757/en/ JC Geha (Photo: Business Wire) Formerly Senior Vice President, Head of International Technology and Services for Deutsche Telekom, and of Managed Services for Ericsson, Geha brings to iBASIS an impressive track record of profitable growth, technology and digital transformation expertise. His expertise spans 25 years of deep global industry relationships across the United States, Europe, Middle East, and Africa. Geha will lead iBASIS’ global operations, engineering, IT, and product development. He will report to iBASIS’ CEO and founder of the Group Tofane Global, Alexandre Pébereau, with the responsibility of g

Abzena Announces Successful Technical Transfer of Synaffix GlycoConnect™ Antibody Drug Conjugate (ADC) Technology to Enable Use in Client Projects23.7.2019 06:00:00 CESTPress release

Abzena, the global partner research organization, announced it has successfully completed a technology transfer and scalability evaluation using the Synaffix technologies of GlycoConnect™ (antibody conjugation) and HydraSpace™ (highly polar spacer). Familiarity with these Antibody-Drug Conjugate (ADC) technologies adds to Abzena’s leadership in process development and GMP manufacturing of ADC linkers and payloads. Abzena can now rapidly ramp up ADC projects using Synaffix technology with high scientific quality. Jonathan Goldman, MD, Abzena CEO added: “Abzena believes in patient first drug development. Our expertise and experience with Synaffix GlycoConnect™ and HydraSpace™ technology further advances our leadership across multiple platforms in ADC. We look forward to supporting our customers as they leverage Synaffix technology to rapidly advance ADCs from IND stage into early clinical development.” About Abzena Abzena provides the most complete set of solutions in integrated discover

Aroma Bit to Develop Smartphone Embeddable Ultra-compact Silicon CMOS Based Smell Sensor That Has Dog Nose Equivalent Resolution in 1mm Squared Die Size23.7.2019 01:30:00 CESTPress release

Aroma Bit launched a new subsidiary to develop the next generation smell sensor based on silicon CMOS sensor substrate that are ultra-compact, high resolution and low cost. The technology is realized by applying Aroma Bit developed smell sensor receptor membrane technology to ultra-sensitive silicon CMOS based ion imaging sensor technology developed by professor Kazuaki Sawada at Toyohashi University of Technology and associated companies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190722005004/en/ Picture of 1mm squared die of silicon CMOS based smell sensor, with dog nose equivalent ~1,200 sensor pixels (Photo: Business Wire) Aroma Bit: http://www.aromabit.com Realizing smartphone embeddable smell sensor with dog nose equivalent ultra-high resolution smell sensor on only 1 millimeter square silicon die size Aroma Bit has developed and are currently selling a compact smell sensor that employs QCM or Quartz Crystal Micro

Logitech Delivers a Strong Start to Fiscal Year 2020 with Robust Sales and Profit Growth23.7.2019 01:00:00 CESTPress release

Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the first quarter of Fiscal Year 2020. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190722005781/en/ Logitech delivers a strong start to Fiscal Year 2020 with robust sales and profit growth. (Graphic: Business Wire) Q1 sales were $644 million, up 6 percent in US dollars and 9 percent in constant currency, compared to Q1 of the prior year. Q1 GAAP operating income grew 46 percent to $47 million, compared to $32 million in the same quarter a year ago. Q1 GAAP earnings per share (EPS) grew 17 percent to $0.27, compared to $0.23 in the same quarter a year ago. Q1 non-GAAP operating income grew 11 percent to $67 million, compared to $61 million in the same quarter a year ago. Q1 non-GAAP EPS grew 15 percent to $0.39, compared to $0.34 in the same quarter a year ago. Cash flow from operations was $37 million, compared to $12 million in the sa