The auditors of Telecom Italia SpA (ADR) (NYSE:TI) have brought it to the company’s attention one of its leading investors Vivendi has what it to influence most of board members. There has been much speculation on whether or not Vivendi has any plans in place to combine the two companies. The influence of French group on Telecom Italia is something that cannot be overlooked in any way.
The communication regulator for Italy has lately been scrutinizing Vivendi’s stakebuilding at Mediaset. The antitrust principles, according to analysts are sparking quite a major setback towards companies’ accruing the excessive market share both in media and telecommunications.
In one of the senate meetings, Recchi was compelled to answer a number of questions from the lawmakers present. It was after some time that the company made a statement, which was upon request by the market watchdog Consob which detailed the discussions emanating from the boards of the companies as well as the auditors.
According to reports, the auditors took time to review board decisions from 2015 and they made their conclusions regarding the matter citing that most of the board members supported decisions by the Vivendi directors.
But it is important to make this one thing clear-the company feels that the section of its board members bend on rejecting auditors’ conclusions would be a showcasing of Vivendi’s representatives refusing to be swayed and thus making decisions independently.
Additionally, some two of its board members had come up with a proposal that would oversee strengthening of checks and balances procedures. Looking at the recent news that have been making headlines in the recent past, Vivendi has been doing a lot in terms of laying down strategies to help it move higher the ladder of success.
Ranging from making the new appointments, to making important partnerships and proper resource allocation, there is much hope that the future might be an exciting one.
As usual, shrewd investors will usually have a close eye for vibrant companies that take advantage of all there is to make business progress. The company has lately been getting new investors but of course the future of the company is something we all have to just wait and see!