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General

Vivendi move to drop board reshuffle bid 'courageous' - TIM CEO

Monday 1 April 2019 | 09:28 CET | News
The chief executive of Telecom Italia (TIM) Luigi Gubitosi described the decision of leading shareholder Vivendi to withdraw its proposal to replace five board members at the Italian operator as "courageous" and a first move towards peace. US fund Elliott seized control of the board of directors in May, when ten of its proposed independent candidates were appointed, together with five Vivendi-nominated directors, in a 15-strong board. However, Vivendi subsequently called for the removal of TIM chairman Fulvio Conti and four other Elliott-appointed directors on grounds of a "substantial lack

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