- Italy's government today is taking up whether it can exercise any special powers over Telecom Italia (MI:TLIT) (TI -0.2%) as France's Vivendi (PA:VIV) (VIVHY +3.4%) begins showing its considerable muscle as a top shareholder, Reuters reports.
- Rome has been looking into whether Vivendi fell down on obligations to give notice of its effective control of TI, considered a strategic national asset.
- But the matter may come down to a late-September meeting between French President Emmanuel Macron and Italy's Prime Minister Paolo Gentiloni.
- The question of control is important since it's the basis of whether Italy can exercise "golden power," allowing it to veto a number of key operations including change of control.
- Previously: TI lawyers say Vivendi isn't breaking any regulations with approach (Aug. 11 2017)
- Previously: Regulator: Vivendi must declare today on control of Telecom Italia (Aug. 07 2017)
- Previously: TI: Vivendi asserted direction for management, JV reasons (Aug. 04 2017)
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