Telecom Italia board to discuss on April 9 Elliott request to supplement AGM

MILAN: Telecom Italia (TIM) said on Thursday its board will discuss on April 9 "potential actions" after its auditors asked for the agenda of a shareholder meeting later in the month to be supplemented with a motion proposed by activist fund Elliott.

The auditors of TIM, whose biggest shareholder is France's Vivendi, said on Tuesday the agenda of an April 24 meeting should be integrated with a request by Elliott to replace six members of the board.

The fund has built a potential holding of 5.7 percent in TIM.

Last week eight TIM board members nominated by Vivendi resigned, rattling the activist fund by forcing TIM shareholders to vote on an entire new board at another shareholder meeting called on May 4.