Tim, the assembly does not convince small investors (Asati). Issues to be clarified with ordinary shareholders’ meeting presented
Five questions, with five answers: Asatithe Association of Small Shareholders of Telecom Italia, has sent in recent days a list of details that must be clarified in view of the meeting of ordinary shareholders on April 7th. The answers obtained by the association led by Franco Lombardihowever, the small shareholders were not satisfied and submitted a further request for clarification.
The first question asked by Asatiin fact, asks to go into the details of the industrial plan and why economic fundamentals are expected to improve despite the title downgrading from Fitch last March 21. The company replied that the goal is to improve the accounts, but Lombardi and his parents fear that it is more than a way to throw the ball further ahead, waiting to understand if and how to proceed with Kkr And Cvc.
Precisely on issues relating to any company spin-offs (in ServiceCo And NetCo) and integrations with Open Fiber, Tim he preferred to hide behind a rigorous “no comment”, postponing the explanation of the strategies to more mature times. Mouths also sewn on any revisions of the agreement with Dazn.
The fourth point of the letter of Asati concerns the carrying value of the stock option to € 0.42, lower than the maximum reached by the stock in the days immediately following the expression of interest by Kkr. In this case, Tim motivated its choice as the weighted average for the period December 2021-February 2022.
In the end, Lombardi and his association are asking for clarification on redundancies and on any new hires they may bring digital skills within the perimeter of the group. As for the redundancies, the company recalls that “the Agreement of May 17, 2021 which provides for the application of the Expansion Agreement with a reduction working hours on approximately 37,000 employees, with two different percentages (12.1% and 3.5% depending on the different sectors involved), the carrying out of 650 hires and the provision of 1.2 million hours of Training“.
As for hiring, however, eyes are on Product Manager, ICT designers, commercial And specialized technicians. The five answers, however, did not convince Asatiwho in a new letter commented on what was argued by Tim, concluding with a laconic “there were no adequate responses to many of the points presented”. Now the appointment is for Thursday 7 April, at the meeting of ordinary shareholders.
Click here for the pre-meeting answers posed by Asati to Tim
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