Vivendi to Appeal Milan Court's Dismissal in TIM Network Sale Case

Vivendi has announced its intention to appeal the Milan court's recent decision regarding the sale of TIM's fixed network. The court rejected Vivendi's complaint due to a lack of standing, noting that Vivendi had not declared its voting intention should a Shareholders' meeting be convened. The court's decision did not address the core issues of the case.

Vivendi had initially filed a complaint on December 15, 2023, seeking to annul a resolution by TIM's Board of Directors. The resolution in question, passed on November 5, 2023, approved the sale without a Shareholders' vote. Vivendi maintains that such a significant asset sale should involve shareholder approval.

Despite the setback, Vivendi remains firm in its belief that the network sale is pivotal to TIM's operations and merits a shareholder vote. An appeal will be pursued in light of these considerations.