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General

Elliott hikes Telecom Italia stake to potential 5.75%

Thursday 22 March 2018 | 08:44 CET | News
Activist fund Elliott has increased its equity stake in Telecom Italia (TIM) to 3.75 percent and holds a further 1.99 percent in derivative contracts, according to a filing with Italian markets watchdog Consob. The fund last week requested the inclusion of a motion to replace six Telecom Italia board members, including its chairman, in the agenda of the shareholder meeting scheduled for 24 April. However, Italian daily Il Giornale reports that TIM chairman Arnaud De Puyfontaine could step down at a 22 March board meeting to lend his support to the strategy debate at the operator.

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Categories: General
Companies: Telecom Italia / TIM
Countries: Italy
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