, Columnist
Billionaire Singer Gets Into an Italian Staring Contest
Telecom Italia’s boss wants to stick around, and Elliott should probably let him.
Sometimes, even for one of the world's most successful investors, it's best to just leave things be.
Photographer: Misha Friedman/BloombergThis article is for subscribers only.
Amos Genish, Telecom Italia SpA’s CEO, seems to have a message for hedge fund billionaire Paul Singer: “Blink, I dare you.”
The veteran telecoms executive has had a turbulent year at the helm of the former Italian national carrier. Singer’s activist fund, Elliott Management Corp., acquired a 9 percent stake in Telecom Italia and set about agitating for change. In April, it managed to oust most of the board appointees of Vivendi SA, the French media conglomerate that owns 24 percent of the shares, and replace them with a lineup of Elliott-backed directors.