EU Plans Meta Antitrust Fine
The EU plans to impose an antitrust fine against Meta Platforms for connecting its Marketplace classified advertisements with the social media network Facebook.
Telecom Italia CEO Pietro Labriola secured a second term following an investor vote. The decision seems to represent shareholders' backing of his strategy to sell the operator’s fixed network assets.
Telecom Italia stated a slate of candidates headed up by Labriola won six out of nine seats on the board of directors. Investment companies Merlyn Partners and BlueBell Capital Partners, which had put up a slate of candidates to challenge Labriola, won two and one seat respectively.
The companies own a 0.5% stake in Telecom Italia each and the former’s parent Merlyn Advisor recently publicly slated the operator’s current strategy, as well as its plan to offload its fixed-line business to NetCo to KKR. However, the vote in Labriola’s favor represents major backing for the sale, worth €18.8 billion, which is intended to cut the operator’s debt load. Vivendi, the largest TIM shareholder with 24%, has also opposed the fixed network sale but abstained from voting.