Telecom Italia TIT.MI
The three reasons
- 1
Vivendi's control of TIM destroyed 54% of shareholder value
- 2
Bollore captures ~6x more value from $1 of Vivendi profit than from $1 at TIM
- 3
Bollore's track record of corruption and governance abuse makes his nominees unsupportable
Primary demands
- Reject Vivendi's slate of director nominees at the March 29, 2019 AGM
- Preserve the current independent Board installed at the May 2018 AGM
- Support new CEO Luigi Gubitosi and the independent Board's February 2019 strategic plan
- Allow unconflicted exploration of strategic alternatives including NetCo separation and Italian telecom consolidation
- Convert TIM saving shares to unlock ~EUR 1.1bn of value for ordinary shareholders
KPIs cited
Pattern membership
Where this document fits across the library's 12 rhetorical / structural patterns.
Notable slides (6)
Notes
Third presentation in Elliott's Telecom Italia campaign, timed to the March 29, 2019 AGM where Vivendi was attempting to retake board control after losing the May 2018 proxy vote. Unusual posture: Elliott is the incumbent defender (activist_defense) protecting the independent board it installed, while framing Vivendi/Bollore as the destructive contrarian trying to claw back control. Three-act SCQA structure ('A Clear Choice' / 'Not Aligned' / 'Unsupportable') with strong editorial typography on black section dividers, consistent purple-accent palette, and annotated share-price charts (p.9, p.19) with overlaid event callouts. Memorable 'Friends & Family' board-interlock grid on p.28. Heavy use of third-party quote stacks (ISS, Glass Lewis, Banca IMI, Credit Suisse, BAML, MSCI ESG, FT, Bloomberg, WSJ, NYT) as credibility scaffolding. Governance-driven thesis, not valuation-driven — no SOP or DCF. Exact presentation date within March 2019 not shown on cover; presentation_date approximated as 2019-03-01 from filename. Companion campaign site: www.Time-for-TIM.com.