Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Italian Stock Exchange  >  Enel    ENEL   IT0003128367

ENEL (ENEL)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Italian minister calls Vivendi 'awful' investor in Telecom Italia

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/16/2018 | 02:52pm CEST
Italian Minister of Economic Development Calenda talks during the presentation of +Europa party's election programme in Rome

MILAN (Reuters) - Vivendi (>> Vivendi) has been an "awful" investor in Telecom Italia (TIM) (>> Telecom Italia), Italy's outgoing Industry Minister Carlo Calenda told daily la Repubblica on Monday, as the French media company fights to keep its grip on Italy's biggest phone group.

MILAN (Reuters) - Vivendi has been an "awful" investor in Telecom Italia, Italy's outgoing Industry Minister Carlo Calenda told daily la Repubblica on Monday, as the French media company fights to keep its grip on Italy's biggest phone group.

"I am in favour of foreign investments, but this does not mean standing aside when they destroy value rather than creating it, especially when there's a strategic interest at stake," Calenda said in the interview.

Vivendi declined to comment on the issue.

TIM has lost a quarter of its market value since Vivendi first took a stake in the middle of 2015. The French company is now TIM's biggest investor with just under 24 percent.

Last year, Vivendi, using its position as TIM's largest shareholder and backed by investment funds, appointed two thirds of Telecom Italia's board and picked its CEO Arnaud de Puyfontaine as chairman. It also made Amos Genish, a favourite of Vivendi's Chairman Vincent Bollore, CEO of the Italian group.

Vivendi's management of the company has led to tensions with the Italian government and Rome eventually decided to use its so-called "golden powers" to ensure it had a say in some key decisions.

The French company is also facing a challenge from activist hedge fund Elliott, which has a built a 9 percent stake, and wants to make changes to TIM's board.

To increase its influence, the government bought a 4.262 percent stake in TIM through its investment arm Cassa Depositi e Prestiti (CDP) at the beginning of April.

The CDP investment follows a decision by TIM to put its telecoms network, which analysts have valued at up to 15 billion euros, into a legally separate company, called Netco and fully controlled by TIM.

Calenda also defended CDP's move and said that Italy should have a single telecoms network, speaking in the interview.

"CDP has intervened to support a project to turn Telecom Italia into a (genuine) public company and spin off the network," the minister said, adding that CDP did not want to take control of the company.

Calenda, a member of the caretaker centre-left government headed by Prime Minister Paolo Gentiloni, remains in his ministerial post pending efforts to end a political stalemate following a national election last month.

Some politicians and Elliott have advocated the creation of a single national network via the merger of Telecom Italia's NetCo with rival Open Fiber, a broadband firm jointly owned by the CDP and state-controlled utility Enel.

Calenda had previously said that Elliott's plan for soon-to-be network company Netco to be listed or partially sold was in line with government's strategy to protect public interests.

(Additional reporting Mathieu Rosemain in Paris,; Editing by Robin Pomeroy/Keith Weir and Jane Merriman)

By Francesca Landini

Stocks mentioned in the article
ChangeLast1st jan.
ENEL -0.04% 4.903 End-of-day quote.-4.43%
TELECOM ITALIA 0.17% 0.606 End-of-day quote.-15.89%
VIVENDI -1.39% 21.21 Real-time Quote.-5.40%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ENEL
07/19ENEL : The electric mobility solutions of Enel come ashore in the ports belongin..
PU
07/17ENEL : FERC Issues Letter Involving Enel Green Power North America
AQ
07/14ENEL : Generator units
AQ
07/14ENEL : Motor vehicles
AQ
07/14ENEL : Turbine installations
AQ
07/14ENEL : Repair and maintenance services
AQ
07/13ENEL : A.M. Best Affirms Credit Ratings of Enel Insurance N.V
AQ
07/13ENEL : inaugurates Catania's ‘Innovation Hub & Lab’ for Open Innovat..
PU
07/12ENEL : X Provides Energy Storage Solution to Canadian Company Amhil North Americ..
AQ
07/12ENEL : Nordex Group secures 595MW contract in Brazil
AQ
More news
News from SeekingAlpha
05/10ENEL Societa per Azioni ADR 2018 Q1 - Results - Earnings Call Slides 
2017Enel (ENLAY) Investor Presentation - Slideshow 
2017INNOGY SE : Buy On The Dips 
2017Unknown Dividend Gem Offering Low-Risk Exposure To 4 Of South America's Large.. 
2017SAFER DIVIDEND UTILITIES : 22.6% Net Gains Make NRG Yield Tops For May 
Financials (€)
Sales 2018 76 355 M
EBIT 2018 10 306 M
Net income 2018 4 132 M
Debt 2018 39 357 M
Yield 2018 5,74%
P/E ratio 2018 12,09
P/E ratio 2019 10,75
EV / Sales 2018 1,17x
EV / Sales 2019 1,14x
Capitalization 49 868 M
Chart ENEL
Duration : Period :
Enel Technical Analysis Chart | ENEL | IT0003128367 | 4-Traders
Technical analysis trends ENEL
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 5,73 €
Spread / Average Target 17%
EPS Revisions
Managers
NameTitle
Francesco Starace Chief Executive Officer, Director & GM
Maria Patrizia Grieco Chairman
Alberto de Paoli Chief Financial Officer & Head-Administration
Angelo Taraborrelli Independent Director
Alberto Bianchi Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
ENEL-4.43%58 176
NEXTERA ENERGY INC9.00%79 871
CHINA YANGTZE POWER CO.6.61%53 947
INNOGY SE12.01%23 721
TENAGA NASIONAL BHD--.--%20 846
GD POWER DEVELOPMENT CO.-15.38%7 620