Vivendi: appeals against Milan court ruling

(CercleFinance.com) - Vivendi takes note of the decision of the Milan Court to reject its claim against the decision of the Board of Directors of TIM concerning the sale of its landline network.


In a ruling handed down today, the court ruled that the claim was inadmissible on the grounds of lack of standing (notably because Vivendi had not declared its intention to vote in the event of a general meeting being convened), and did not examine the merits of the case.

Despite the rejection of its claim by the Milan court on purely formal grounds, Vivendi continues to believe that the sale of the TIM network should have been put to a vote at a shareholders' meeting, as it is an essential asset of the company that would modify TIM's corporate purpose, it says.

For this reason, Vivendi intends to appeal against this decision.


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