Telecom Italia (TIM) TIT.MI
The three reasons
- 1
Vivendi holds only 18% economic stake yet controls TIM to its own benefit
- 2
An independent board would empower the CEO and back his existing business plan
- 3
NetCo separation, Sparkle sale and dividend return unlock value for all shareholders
Primary demands
- Vote Elliott's slate of 10 Independent Nominees at the May 4 General Meeting
- Replace Vivendi-controlled directors with independent directors representing all shareholders
- Support CEO Amos Genish and management's 2018-20 Business Plan with an independent board
- Pursue legal separation of NetCo and evaluate sale of minority stake to unlock value
- Reinstate dividend in 2019 conditional on reaching investment grade in 2018
- Convert savings shares to ordinary shares for governance and EPS accretion
- Sell stake in Sparkle to unlock additional shareholder value
KPIs cited
Pattern membership
Where this document fits across the library's 12 rhetorical / structural patterns.
Notable slides (7)
Notes
Second/follow-up Elliott deck on TIM, focused narrowly on the May 4 2018 AGM proxy vote between the Elliott Independent slate and the Vivendi slate. Notable rhetorical moves: side-by-side slate-comparison table with green-check vs. red-X independence badges (p.6); twin 'Independent Board' vs. 'Not Independent Board' circle diagrams visualizing alignment with all shareholders (p.7); paired-quote layout juxtaposing Elliott statements with CEO Amos Genish statements to demonstrate alignment rather than contradiction (p.8); three-column 'What Elliott Said / What TIM Said / Comment' table reframing management's plan as compatible with Elliott's value-creation proposals (p.9). Tone is adversarial toward Vivendi but explicitly collaborative toward CEO and management — a softer companion piece to Elliott's earlier (March 2018) full thesis deck. No SOTP or peer-gap charts in this volume; valuation/financial detail is light because the document's job is to win the vote, not re-argue the underlying thesis. Pages 11-12 not sampled (likely candidate-CV continuation in appendix).