Telecom Italia shareholders to vote on Vivendi board change demand- sources

Telecom Italia’s board has decided to call a shareholder meeting for March 29 to vote on top shareholder Vivendi’s request to replace five board members, three sources familiar with the matter said.

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

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