Top investor Vivendi urges Telecom Italia to fill vacant board seat - sources

November 04, 2022 09:30 PM AEDT | By Reuters
Follow us on Google News:
Image source: Reuters

MILAN, Nov 4 (Reuters) - Telecom Italia's top investor Vivendi has urged Italy's biggest phone group to appoint a director to fill a vacant seat on its board, two sources with knowledge of the matter said on Friday.

The board seat has been empty since late September, when Renault boss Luca de Meo resigned as an independent director at the former phone monopoly to focus on the turnaround plan of the French carmaker.

The sources cited a letter to Telecom Italia's chairman Salvatore Rossi in which the French group calls for a quick appointment of a new director.

Vivendi and Telecom Italia declined to comment.

The issue is not expected to be a topic of discussion when the TIM board meets on Nov.9, although a formal agenda for the meeting is still to be issued, other sources said, cautioning deliberations are ongoing.

Vivendi has clashed with Rossi, a former Bank of Italy official, over corporate governance issues on a number of occasions and is piling on pressure to replace him. (Reporting by Elvira Pollina Editing by Keith Weir)


The above content is directly sourced from Reuters under a contractual arrangement. The content is being provided as a convenience and for informational purposes only; and does not constitute an endorsement or approval by Kalkine Media of any of the products, services, or opinions of the organization or individual. The user is apprised that Kalkine Media bears no responsibility for the accuracy, legality, or content of Reuters, any external sites, or for that of subsequent links. The user is requested to contact Reuters directly for answers to questions regarding the content. Please note that Kalkine Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK