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General

TIM to challenge Elliott call for board changes with legal action

Tuesday 10 April 2018 | 08:38 CET | News
Telecom Italia (TIM) has announced that a meeting of its board of directors resolved to "take every legal action" to challenge a decision by statutory auditors to supplement the agenda of the upcoming Annual Shareholders' Meeting to be held on 24 April with a motion proposed by activist fund Elliott to replace six Vivendi-nominated board members. Describing the decision as unlawful, TIM said "statutory auditors can only intervene in a situation of "inertia" (inactivity) of the administrative body in granting the supplementation request made by the shareholders and not in a situation where

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