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Telecom Italia shareholders to vote on Vivendi board change request on March 29 - sources

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Telecom Italia shareholders to vote on Vivendi board change request on March 29 - sources
FILE PHOTO: Telecom Italia new logo is seen at the headquarter in Rozzano neighbourhood of Milan, Italy, May 25, 2016. REUTERS/Stefano Rellandini/File Photo   -   Copyright  Stefano Rellandini(Reuters)
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ROME/MILAN (Reuters) – Telecom Italia’s <TLIT.MI> board has decided by majority to call a shareholder meeting for March 29 to vote on top shareholder Vivendi’s <VIV.PA> request to replace five board members, two sources familiar with the matter said.

In December, the French media giant, which owns 24 percent of Telecom Italia, called for the replacement of five of the board members put forward by U.S. activist fund Elliott, citing a “substantial lack of independence”.

(Reporting by Agnieszka Flak and Alberto Sisto; editing by Stephen Jewkes)

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