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Chairman, six directors leave Telecom Italia amid fight with Elliott

Published 03/22/2018, 03:36 PM
© Reuters.  Chairman, six directors leave Telecom Italia amid fight with Elliott
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  • Telecom Italia (NYSE:TI) is off 1.9% after news that its chairman and six directors are resigning, amid a push by Elliott Management to challenge them.
  • Chairman Arnaud de Puyfontaine is leaving the board.
  • Elliott was pressing to remove boardmembers named by France's Vivendi (PA:VIV) (OTCPK:VIVHY -2.2%), which has gradually been tightening control of the Italian incumbent telecom.
  • Elliott had said it wasn't seeking control of TI but to submit Italian names in place of the Vivendi boardmembers.
  • Now read: What Did BlackBerry Just Announce?


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