Hyundai has shelved a plan which would have given the son of its chairman more control of the company, following oppn from investors including Elliott Mgmt.
Telecom Italia shares fell after Berenberg downgraded Italy’s biggest phone group to “sell” from “hold”, citing pressure from pending new competition.
A planned overhaul of Hyundai’s ownership structure has garnered more opposition with a major US proxy adviser urging shareholders to reject a deal.
French media group Vivendi has notified Italian market regulator Consob that it does not control TIM after it lost the majority of the phone group’s board seats following a May 4 shareholder vote.
Telecom Italia said it had not been formally notified of a 74.3 mn euros fine imposed by the Italian govt related to a breach in notification obligations towards Rome.
Telecom Italia is expected to reappoint Amos Genish as its chief executive, as the phone group enters a new phase after activist fund Elliott wrestled board control from top shareholder Vivendi.
ANZ said it would stop paying financial planners bonuses for selling its products, the first of the country’s top lenders to change business practices.
Vivendi reaffirmed its commitment to Telecom Italia after losing control of the Italian phone group’s board, pledging to fight any break-up plan.
Elliott is stepping up its activities in Europe, as it sees more opportunities to unlock value for shareholders by pushing through management changes, company break-ups.
South Korean prosecutors are looking into U.S. activist fund Elliott Management to see whether it violated disclosure rules, local media reported.
Gets 1 Observation For Karkhadi Unit From USFDA
USFDA Issues No Observation To Rabale Unit
USFDA Issues 3 Observations To Patalganga Unit
AU SMALL FINANCE
Temasek Arm to invest rs 1,000 cr in Bank Share, Warrant
INDIABULLS REAL ESTATE
Approves proposal of Buyback of up to 2.6 Cr Equity Shrs
Buyback Size 5.45% of existing paid-up share capital
Maximum Buyback Price proposed at Rs 240/Sh