Semler says TIM Hellas was trading at half the average multiple of European wireless firms.
Eric Semler, who runs a New York City hedge fund, invests in media and communications companies.
"We're not the sort of guys who are looking to pick a fight, " Semler says.
"Growth and profit are a product of how people work together, " Ricardo Semler told CNN.
"(Semler's ideas have) sort of seeped into the establishment, " says Tom Stewart of the Harvard Business Review.
However, a number of Semler's principles have filtered their way into the conventional wisdom of management-employee interaction.
Borut Semler tested Scotland goalkeeper David Marshall moments later but the Celtic player was equal to the shot.
BBC: SPORT | Football | Internationals | Slovenia U21 1-0 Scotland U21
These ideas have been put into practice at Semler's Brazilian firm, Semco, with a great deal of success.
One failed deal sticks in his craw, and Semler has gone to federal court in New York City for restitution.
Semler's accomplishments are all the more significant when considered against the backdrop of the erratic Brazilian economy during this period.
Semler found Stevanovic 12 yards from goal with his clever pass and the Real Sociedad player's effort was saved by Marshall.
BBC: SPORT | Football | Internationals | Slovenia U21 1-0 Scotland U21
But these are just some of the suggestions of Ricardo Semler, a celebrated business role model, who firmly believes in workplace democracy.
Semler is arguing that the missing link is a grab bag of goodies, like handsets, that Telecom Italia is selling to TIM Hellas.
Semler figured, a bit naively, that worst-case the Italian parent would buy out the rest of the minority investors at a modest premium.
Semler was infuriated further when he learned that TPG and Apax bought out Q-Telecom, Greece's fourth-largest cell carrier, for 14.3 times annualized trailing earnings.
Semler has purged his firm of what he calls "corporate oppression, " including time clocks, dress codes, privileged office spaces and perks for top executives.
In August 2005, shortly before minority shareholders were set to get bought out, Semler asked TIM Hellas' TPG-Apax-controlled board to appoint an independent fairness committee to assess the price.
"If we do not let people do things the way they do, we will never know what they are really capable of and they will just follow our boarding school rules, " Semler explains.
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