Telecom Italia Board Disagrees With Auditors' Report on Shareholder Elliott
May 07 2019 - 3:48AM
Dow Jones News
By Patrick Costello
Telecom Italia's (TIT.MI) board of directors disagrees with an
auditors' report saying that shareholder Elliott Capital Advisors
exercises "significant influence" over the company, the Italian
company said late Monday.
Telecom Italia's board said the report from the company's board
of statutory auditors doesn't "consider the details required by the
law to be met."
The board reached its decision by a majority vote with three
abstentions, it said.
Telecom Italia shareholder Vivendi SA (VIV.FR) has been locked
in a battle with activist investor Elliott Management Corp. over
the Italian company's strategy and board since early 2018.
Write to Patrick Costello at patrick.costello@dowjones.com.
(END) Dow Jones Newswires
May 07, 2019 03:33 ET (07:33 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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