Shares in Telecom Italia volatile ahead of board meeting

MILAN: Shares in Telecom Italia dropped as much as 5 percent before paring losses on Monday as a battle continues among key shareholders in the Italian phone group.

Telecom Italia's board will meet later on Monday to decide whether to take action after statutory auditors accepted investment fund Elliott's additions for the agenda of the April 24 board meeting.

Elliott has built a potential 6 percent stake in Telecom Italia challenging the leadership of top investor Vivendi .

By 0714 GMT shares in Telecom Italia fell 0.5 percent with one trader attributing the earlier drop to a fat-finger error.