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General

TI shareholders reject savings conversion plan

Tuesday 15 December 2015 | 15:47 CET | News
Telecom Italia's proposal to convert its savings shares into ordinary stock has been rejected after the company's board failed to receive the backing of a two-thirds majority of shareholders at a 15 December meeting. Corriere delle Comunicazioni reports that 62.5 percent of the company's shareholders present at the meeting approved of the plan, with 1.5 percent rejecting it and 36.1 percent abstaining. Shareholders representing 55.7 percent of Telecom Italia's equity capital attended the extraordinary meeting. The decision of top shareholder Vivendi to abstain from voting on the proposal was

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