Beppe Grillo's Blog: Genoa-Style Takeover

Genoa-Style Takeover

Telecom is available for a takeover. Its value on the Stock Exchange is about half that of when Tronchetti arrived. Tronchetti’s package, that allows him through a series of Chinese boxes comparable to a trapeze artist in finance circles, to control Telecom, is worth double the market value.

Even though it’s only got half the value. The reason is not known. Consob, the Stock Exchange and the Bank of Italy don’t know. However Tronchetti knows and at least in this respect he is human. To hand over the package of control he would like it to have, because of nostalgia, the value it had in 2001. Well even all the other shareholders would like that for their shares. Who can criticise them for that?

If there were a takeover bid for Telecom shares at a price slightly above the Stock Exchange price, Tronchetti would go home. And he would have to devalue the shares in his possession. I don’t have the money to do a takeover. However I’ve thought of an alternative. A Genoa-style alternative.

A Genoa-style takeover. Without having to put down any money, a bit like Italian financiers. But with respect to them without building up a debt with the banks.
Through the blog, and with the support of a legal firm I will ask for the representation of all those who own Telecom shares. If I get enough support I will call a shareholders meeting and I will sack the Board of Directors. That’s not a joke.

Considering that there’s nothing moving on the idea of “class action”, let’s move to facts and do a “share action”. Small shareholders all over the world unite. (Before the arrival of Murdock, the brown knight).

Comments

As i said to an AI rappresentative back in October 2005, ALL entrepreneurs and politicians who make mistakes should pay their share for the mistakes they make...
After theyve made them
I am fed up with the culture of 'people by number' sort of culture

Posted by: Maria Consuelo Spera | September 11, 2006 03:42 PM

"Where ignorance is bliss, it is folly to be wise."

How very true.

Posted by: Joselle Camilleri | September 6, 2006 02:00 PM

Catchy idea, but pretty silly in practice.

Keep on howling to the moon!

Posted by: Francesco Tronchetti Ciprovera | September 6, 2006 01:31 PM

You get my vote. If Murdoch gets in I will take out my telephone.

Posted by: Maureen Lister | September 6, 2006 10:47 AM

The owners of Telecom Italia shares are called:

SHAME-HOLDERS

Posted by: Lose Yourshirt Initaly | September 4, 2006 08:18 PM

Prince: There isn't a list because there are at the moment no formal agreements to this proposal. Instead that there was many people who had some objections, because they think Beppe's suggestion will lead some naive people buying Telecom's shares only to adhere of this action.
I don't care about it, I wouldn't buy any action in any case!
:-)

Posted by: Raffaella Biferale | September 4, 2006 08:13 PM

The list of Telecom's small shareholders which will adhere to Beppe's action.

Posted by: Giovanni Principe | September 4, 2006 07:57 PM

Which list, Prince?
There is no list on the italian side. What are you meaning?

Posted by: Raffaella Biferale | September 4, 2006 07:46 PM

I really want to see the list of these people.

I don't want to go to the Italian side because I don't have time to select between crop and crap.

I hope this thing will have a following.

By the way: Beppe, stay away from overpasses.

Posted by: Giovanni Principe | September 4, 2006 07:16 PM

This is wicked ! Beppe, I wished I had 1 billion of Telecom shares to follow your advice but I do not. GO 4 IT BEPPE !!!!

Posted by: Cristina Ekipaser | September 4, 2006 04:20 PM

I can open a swiss bank account where bloggers can swift their money. I promise I will use it to collect Telecom shares.

Posted by: Da Faundascion | September 4, 2006 03:56 PM

Beppe, sorry, I can't help, I've never been a shareholder and I will never be it.
But the inititive is good, I hope you'll find a lot of little sahreolders who want to take part in it!

Posted by: Raffaella Biferale | September 4, 2006 12:28 PM

Get the bas****.

While you at it get the son of a ***** merda.
that hatemonger and parasite of sewage media works.
"brown knight" more like *°§°##*. If he was "brown" than he would have had to pay ££££££ to have titles like the curry king Sir Noor Gulham.

Posted by: Marcia Visanji | September 4, 2006 12:07 PM

Let's go! you are the only one who can do that! let's cut the tronchetto in little tronchetti!

Posted by: luca rizzi | September 4, 2006 11:28 AM

Beppe this is a bold move,go for it! ciao

Posted by: evakulnura | September 4, 2006 07:49 AM