TIM: Elliott obtains 10 seats on board; hails 'victory'
(CercleFinance.com) - Telecom Italia said on Friday that 10 Elliott directors have been elected to its board, while French rival Vivendi only got five seats on the board.
Elliott said today's vote represented a "victory" for shareholders, opening up a new chapter for TIM, in which the Company can build upon improved governance to create value.
The investment fund also said that it remains "fully supportive" of current TIM CEO Amos Genish and that it was "fully aligned" with Genish's strategic plan.
Amos Genish, one of the five directors who Vivendi proposed, has been elected on the board.
The Telecom Italia share is up over 2% this Friday afternoon in Milan.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Elliott said today's vote represented a "victory" for shareholders, opening up a new chapter for TIM, in which the Company can build upon improved governance to create value.
The investment fund also said that it remains "fully supportive" of current TIM CEO Amos Genish and that it was "fully aligned" with Genish's strategic plan.
Amos Genish, one of the five directors who Vivendi proposed, has been elected on the board.
The Telecom Italia share is up over 2% this Friday afternoon in Milan.
Copyright (c) 2018 CercleFinance.com. All rights reserved.