April 9, 2018 / 5:14 PM / 12 days ago

Italian fund association will not present slate for Telecom Italia board vote

MILAN, April 9 (Reuters) - Italian fund association Assogestioni said on Monday it had decided not to present a slate proposing candidates for the board of phone group Telecom Italia ahead of a shareholder vote on May 4.

Last month eight board members nominated by top investor Vivendi resigned, triggering a full board renewal at Italy’s biggest phone group.

The move came after activist fund Elliott proposed a shareholder vote to replace six of Vivendi-nominated board members at a separate meeting on April 24.

Reporting by Agnieszka Flak

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