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

ENEL (ENEL)
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Vivendi CEO not worried about Elliott's move on Telecom Italia - paper

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03/08/2018 | 08:10am CEST
Vivendi's CEO Arnaud de Puyfontaine gestures during 2018 Reuters Breakingviews Predictions event in Milan

MILAN (Reuters) - Activist fund Elliott's acquisition of a stake in Telecom Italia (TIM) is not a cause of concern for the phone group and its main shareholder Vivendi, the TIM Chairman and Vivendi CEO said on Thursday in a newspaper interview.

Arnaud de Puyfontaine told Italian daily Il Messaggero he did not see Elliott's move as an attack against Vivendi.

"By definition an activist fund's approach implies a degree of disagreement with the way a company is run but we don't know yet in detail what their intentions are," de Puyfontaine said.

When asked about Elliott's plan to ask for the TIM board to be changed and the business plan radically modified, he said the plan had been unanimously approved by the board.

"So we will be united in supporting it in the conviction it is the right one," he said.

Elliott said on Tuesday it had built an unspecified stake in TIM and was ready to replace some members of the board to improve strategy and governance.

De Puyfontaine also said he ruled out the idea of a merger with broadband rival Open Fiber but said TIM was open to cooperation.

On TIM's plans to spin off its fixed line network, he said the phone incumbent would continue to have a constructive dialogue with whatever Italian government took office following last Sunday's elections.

The Vivendi CEO also reiterated that finding an agreement with broadcaster Mediaset on a legal dispute over a failed pay-TV deal "would make a lot of sense".

(Reporting by Stephen Jewkes)

Stocks treated in this article : Vivendi, Enel, Telecom Italia, Mediaset
Stocks mentioned in the article
ChangeLast1st jan.
MEDIASET -0.04% 2.859 End-of-day quote.-11.49%
TELECOM ITALIA -0.35% 0.679 End-of-day quote.-5.76%
VIVENDI 0.00% 21.46 Real-time Quote.-4.28%
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Financials (€)
Sales 2018 75 945 M
EBIT 2018 10 305 M
Net income 2018 4 122 M
Debt 2018 39 211 M
Yield 2018 5,84%
P/E ratio 2018 11,87
P/E ratio 2019 10,56
EV / Sales 2018 1,16x
EV / Sales 2019 1,14x
Capitalization 49 115 M
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Enel Technical Analysis Chart | ENEL | IT0003128367 | 4-Traders
Technical analysis trends ENEL
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 5,70 €
Spread / Average Target 18%
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
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