- In a "re-establishment of the truth," Vivendi (VIVHY +0.4%) is continuing to snipe at the Elliott Management-backed directors of Telecom Italia (TI +2.7%) in their ongoing fight over control of the Italian incumbent.
- "Vivendi denounces the behavior of the Elliott-nominated Telecom Italia Board members who yesterday rejected by a majority vote the report issued by the company’s Board of Statutory Auditors, a totally independent body, citing serious irregularities related to the company’s governance and its Board," the company says.
- "Even the proxy advisory firms" acknowledged misconduct, Vivendi says, though those firms are all weighing in on Elliott's side in the proxy fight.
- Vivendi raises a number of specific, pointed governance questions in its statement, and urges shareholders to "install a truly independent board."
- It says only two of the boardmembers it's designated would not be independent, and that neither would run for chairman.