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Fighting Billionaires Need to Back Off In Italy

Fighting Billionaires Need to Back Off In Italy

It’s a healthy reminder to Vivendi SA and activist fund Elliott Management Corp. to temper their more combative instincts and let the respected telecoms executive get on with the job. This applies just as much to Paul Singer’s hedge fund as it does to Vincent Bollore’s French media conglomerate. Just 50 days after launching its 5.99 euros per month cellphone contracts in Italy, Niel’s company said last week it had a million subscribers there.