De Puyfontaine dismisses Labriola: “We need a new chapter in Tim”
That the marriage between Pietro Labriola and Vivendi had entered into a crisis it was clear to everyone when Tim’s shareholders’ meeting last week rejected the remuneration policy which provided for a bonus for the CEO. From there no official statement, but the feeling that the Apulian manager with a passion for Inter and for the tattoos he began to feel that the trust around him was failing.
Now Arnaud De Puyfontaine, big boss of Vivendi who is – better to remember – the first shareholder of Tim with just under 24% of the shares, attacked the management of the company. In fact, according to the French manager, the time has come for “a new chapter” that can bring its true value to the group. What is it referring to? At stock market value? Or to that of assets?
According to Affaritaliani.it, Wheatgrass had had a precise mandate: to bring offers for the net. Assets that the French value at around 31 billion. Tim’s CEO got non-binding offer and Kkr it’s yes Cdpbut neither of them dreamed of it to bring the bar set by Vivendi closer. Question, therefore: is there anyone willing to significantly raise the post?
According to Vivendi there must be a subject who does it, otherwise the negotiation does not take off. The alternative? The famous private take which however, with the increase in the price of money following the rise in interest rates, has become almost impossible because whoever buys Tim through the takeover bid, a mountain of debts is then found to be taken on. So what to do?
The French expected more from the manager, so much so that they are now inviting us to build “true value”. If you look at the capitalization, however, you have to put your hands in your hair: today’s session ended with the stock at 0.27 euro per share, down 1.3%, for a countervalue of 5.63 billion. The Mexican stalemate is dangerous, because some Pnrr money also passes through the network and from Tim. Maintaining the status quo is impossible, but nobody seems willing to take the first step.
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