Telecom Italia Board Backs Chairman in Dispute With Vivendi
March 15 2019 - 3:23AM
Dow Jones News
By Nathan Allen
Telecom Italia SpA (TIT.MI) said late Thursday that its board
has full confidence in Chairman Fulvio Conti following a meeting to
discuss allegations that he withheld information from certain board
members prior to the ouster of former Chief Executive Amos
Genish.
The Italian telecom group's top shareholder Vivendi SA (VIV.FR)
has accused Mr. Conti of breaching governance rules by sharing
information with board members appointed by Elliott Management
Corp. before the rest of the board.
Vivendi, which holds a 24% stake in Telecom Italia, is seeking
the removal of Mr. Conti and four Elliott-appointed board members
for allegedly conspiring to dismiss Mr. Genish, a former Vivendi
executive.
Read more about the imbroglio surrounding Telecom Italia at
https://on.wsj.com/2TlJwWy (WSJ paywall) or https://bit.ly/2KuPhKY
(NewsPlus).
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
March 15, 2019 03:08 ET (07:08 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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