News of CDP's plan sent
TIM shares up 2.7 percent by 0944 GMT, outperforming a 1.4 percent rise in Milan's blue - chip index.
It's a strategic asset, there's a problem of control, we don't know what Vivendi wants to do,» said Roberto Lottici, fund manager at Ifigest, who does not currently own
TIM shares.
It has also significantly bumped
the Tims share price to all time highs before the closing, approaching $ 97 per share at the time of this article going to press, expanding the reach of double doubles and maple dipped donuts into entirely new markets.
Not exact matches
However, investors are reacting positively to two other pieces of news:
Tims» dividend hike — increased 23 %, or six cents a
share to 32 cents — and a $ 440 million
share buyback, driving the stock up 3 % in early trading.
Elliott has said
TIM's
share price, strategy and governance had suffered under Vivendi's leadership and accused the French media group of only serving its own interest.
The fall of
TIM's
shares, and the mounting criticism about Vivendi's strategy and control over the company, brought Telecom Italia to the attention of Elliott in March.
CDP does not currently hold any
shares in
TIM and plans to buy the
shares on the market or in block orders, the source added.
Elliott has said
TIM's
share price, strategy and valuation had suffered under Vivendi's leadership and accused the French media group of only serving its own interest.
Elliott owns nearly 6 percent of
TIM through direct ownership of
shares and derivatives contracts, according to the latest available filings.
For example, the chapters of our book The Intimate Marriage (hereafter referred to as
TIM) can be used, with supplemental resources, in an eight - session enrichment group (the communication exercises at the end of each chapter can facilitate experiential learning and
sharing).
Thornburg Investment Management (
TIM) announced it is adding R6
share classes to four of its funds.
Certain activists had been putting pressure on
Tims to boost returns through debt - funded
share buybacks and to scale back in the U.S. Meanwhile, another had also issued a report recommending
Tims pull out of the U.S., stop spending money, and borrow as much as they could and leverage the company.
A similar series of commitments were made to the charities
Tims supports and to Canada in terms of the new company that will own both
Tims and Burger King being a Canadian company in the presence of Canadian executives and
shared services in Canada.