Elliott Management

Activist investor Elliott Management sold its equity stake in Twitter during the second quarter, coinciding with a period in which the social media company’s share price fluctuated due to a takeover bid from billionaire Elon Musk.

Twitter lined up Mastercard executive Mimi Alemayehou to replace Elliott Management partner Jesse Cohn, who departed the social media giant’s board after the hedge fund helped to shake up the business.

Activist investor Elliott Management reportedly increased its stake in Twitter by more than $200 million after stocks of the social media company declined due to advertiser pullback.

Elliott Management sold its shares in AT&T, cashing in on its initial $3. 2 billion investment after instigating a shake-up at the US operator by attacking management and taking aim at its M&A strategy.

Activist investor Elliott Management took aim at infrastructure company Crown Castle, arguing it had delivered disappointing returns to shareholders and urging a strategy overhaul to compete better with its rivals.

Elliott Management cut its stake in Telecom Italia by almost 3 per cent in response to the current financial climate, but the move is not expected to modify the activist investor’s influence on the operator.

AT&T CEO Randall Stephenson’s (pictured) total compensation for 2019 reportedly increased by 10 per cent, as the executive benefitted from a spat between the operator and activist investor Elliott Management which caused a significant boost in share price.