Elliott Seeks To Replace Telecom Italia Chair

Activist fund Elliott moved to replace some of Telecom Italia SpA's (TIT.MI) board members, including the company's chairman, in a management shake-up after the fund accumulated a stake in the Italian company.

Telecom Italia said Thursday that Elliott has requested some changes to the shareholders' meeting agenda, including proposing the replacement of Chairman and Vivendi SA (VIV.FR) CEO Arnaud de Puyfontaine.

The fund wants to replace five other board members proposed by France's Vivendi, which has a stake of almost 24% in Telecom, including Deputy Chairman Giuseppe Recchi. The fund has submitted a list of candidates to replace the current members.

Telecom Italia shareholders' meeting will take place on April 24.

RECENT NEWS

The Penny Drops: Understanding The Complex World Of Small Stock Machinations

Micro-cap stocks, often overlooked by mainstream investors, have recently garnered significant attention due to rising c... Read more

Current Economic Indicators And Consumer Behavior

Consumer spending is a crucial driver of economic growth, accounting for a significant portion of the US GDP. Recently, ... Read more

Skepticism Surrounds Trump's Dollar Devaluation Proposal

Investors and analysts remain skeptical of former President Trump's dollar devaluation plan, citing tax cuts and tariffs... Read more

Financial Markets In Flux After Biden's Exit From Presidential Race

Re-evaluation of ‘Trump trades’ leads to market volatility and strategic shifts.The unexpected withdrawal of Joe Bid... Read more

British Pound Poised For Continued Gains As Wall Street Banks Increase Bets

The British pound is poised for continued gains, with Wall Street banks increasing their bets on sterling's strength. Th... Read more

China's PBoC Cuts Short-Term Rates To Stimulate Economy

In a move to support economic growth, the People's Bank of China (PBoC) has cut its main short-term policy rate for the ... Read more