Telecom Italia Board Backs Chairman in Dispute With Vivendi

Date : 03/15/2019 @ 7:23AM
Source : Dow Jones News
Stock : Vivendi (PC) (VIVEF)
Quote : 29.0  -0.56 (-1.89%) @ 8:11PM
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Telecom Italia Board Backs Chairman in Dispute With Vivendi

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   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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