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

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(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. A total of 49.84 percent of the shareholders present at the meeting voted in favour of the Elliott list, while 47.18 percent voted in favour of Vivendi’s list. In a statement, TIM confirmed that all 10 of Elliot’s independent directors were appointed, to be joined by 5 Vivendi-nominated directors, including current TIM CEO Amos Genish and Vivendi CEO Arnaud de Puyfontaine.
Source: Industry News (syndicated from Telecompaper.com)

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