Vivendi: New Board of Directors Appointed at Telecom Italia to Accelerate the Long Term Development of the Current Strategy
05 May 2017 - 10:36PM
Business Wire
Regulatory News:
Vivendi (Paris:VIV) welcomes the composition of Telecom Italia’s
new Board of Directors, which was approved by the company’s Annual
Shareholders’ Meeting on May 4, 2017. The new team, which brings
together a wide variety of recognized skills, will be a valuable
asset in the development of the Italian company’s strategy and in
meeting its challenges in the months and years to come.
Telecom Italia’s new Board of Directors has 15 members, ten of
whom are independent within the meaning of Italian law and the
Corporate Governance Code for listed companies. Three members
(Arnaud de Puyfontaine, Hervé Philippe, Frédéric Crépin) represent
Vivendi, Telecom Italia’s largest shareholder. Two members
(Giuseppe Recchi and Flavio Cattaneo) ensure the continuity of
management.
The Board of Directors held today was exclusively dedicated to
the renewal of the delegation of powers needed to ensure the proper
functioning of the company. The same persons are empowered with the
same powers pending merger control clearance by the European
Commission.
Vivendi reaffirms its long term commitment to Telecom Italia and
its desire to create significant value for the telecoms operator’s
customers, employees and shareholders.
About VivendiVivendi is an integrated media and content
group. The company operates businesses throughout the media value
chain, from talent discovery to the creation, production and
distribution of content. Universal Music Group is engaged in
recorded music, music publishing and merchandising. It owns more
than 50 labels covering all genres. Canal+ Group is engaged in
pay-TV in France, as well as in Africa, Poland and Vietnam. Its
subsidiary Studiocanal is a leading European player in production,
sales and distribution of movies and TV series. Gameloft is a
worldwide leader in mobile games, with 2 million games downloaded
per day.Vivendi Village, groups together Vivendi Ticketing (in the
United Kingdom, the United States and France), MyBestPro (expert
counseling), Watchever (subscription streaming services), Radionomy
(digital radio), the venues L’Olympia and Theâtre de L‘Œuvre in
Paris, and CanalOlympia in Africa, as well as Olympia Production.
With 3 billion videos viewed each month, Dailymotion is one of
the biggest video content aggregation and distribution platforms in
the world.,www.vivnedi.com, www.cultureswithvivendi.com
Cautionary Note Regarding Forward Looking Statements.This
press release contains forward-looking statements with respect to
the financial condition, results of operations, business, strategy,
plans and outlook of Vivendi, including the impact of certain
transactions. Although Vivendi believes that such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance. Actual results may differ
materially from the forward-looking statements as a result of a
number of risks and uncertainties, many of which are outside our
control, including but not limited to the risks related to
antitrust and other regulatory approvals as well as any other
approvals which may be required in connection with certain
transactions and the risks described in the documents Vivendi filed
with the Autorité des Marchés Financiers (French securities
regulator), which are also available in English on Vivendi's
website (www.vivendi.com). Investors and security holders may
obtain a free copy of documents filed by Vivendi with the Autorité
des Marchés Financiers at www.amf-france.org, or directly from
Vivendi. Accordingly, we caution readers against relying on such
forward looking statements. These forward-looking statements are
made as of the date of this press release and Vivendi disclaims any
intention or obligation to provide, update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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