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Elliott list secures two-thirds of Telecom Italia's board - report

2018-05-04 15:01:00| Telecompaper Headlines

(Telecompaper) A list of 10 candidates presented by activist fund Elliott Management has secured two-thirds of Telecom Italia's board seats following a shareholder vote held on 04 May, reports Reuters. A total of 49.84 percent of the shareholders present at the meeting voted in favor of the Elliott list, while 47.18 percent voted in favour of Vivendi's list led by current TIM CEO Amos Genish, with Vivendi CEO Arnaud de Puyfontaine proposed as non-executive chairman. The report added that Genish and de Puyfontaine will still be part of the board, together with three other Vivendi candidates, meaning that the French company and Elliott will have to have to find a way to work together after a two-month power struggle. 

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