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Telecom Italia pins writedown on Genish missing strategic objectives

( November 13, 2018, 13:30 GMT | Official Statement) -- MLex Summary: Following today’s dismissal of Telecom Italia chief Amos Genish, the carrier issued a list of “clarifications” to assertions made by Vivendi, its biggest shareholder. The statement said the supervisory board had been obliged to take writedowns because Genish had failed to meet his own strategic goals. The board, it added, “wholly consists of directors that are independent from the investment funds managed by Elliott.” A Vivendi spokesperson didn’t respond to a request for comment.Full statement follows. ...

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