Elliott Wants to Replace Telecom Italia's Chairman in Management Shake-Up
March 15 2018 - 7:35AM
Dow Jones News
By Pietro Lombardi
Activist fund Elliott moved to replace some of Telecom Italia
SpA's (TIT.MI) board members, including the company's chairman, in
a management shake-up after the fund accumulated a stake in the
Italian company.
Telecom Italia said Thursday that Elliott has requested some
changes to the shareholders' meeting agenda, including proposing
the replacement of Chairman and Vivendi SA (VIV.FR) CEO Arnaud de
Puyfontaine.
The fund wants to replace five other board members proposed by
France's Vivendi, which has a stake of almost 24% in Telecom,
including Deputy Chairman Giuseppe Recchi. The fund has submitted a
list of candidates to replace the current members.
Telecom Italia shareholders' meeting will take place on April
24.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
March 15, 2018 07:20 ET (11:20 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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