- Nineteen prisoners use cutlery to break out of cells at Winchester prison
- France wants progress in Ukraine before Russia returns to G7
- Italy president begins talks to seek way out of government crisis
- Italian PM expected to resign as political chaos deepens
- Russia says US cruise missile test ‘regrettable’
- Kremlin - No date set for Normandy talks on Ukraine despite Macron meeting
- Egypt court hands out 6 death sentences on terror charges
- Putin says Russian nuclear explosion poses no threat
- Russian panel eyes alleged foreign interference in protests
- Gran Canaria wildfire triggers evacuation of thousands of people
- PM Johnson calls on Germany and France to compromise on Brexit
- Sudan's ex-president Bashir arrives at corruption trial
TEHRAN, April 08 - Proxy adviser Glass Lewis has recommended Telecom Italia (TIM) (TLIT.MI) investors back a proposal by activist fund Elliott to replace six board members and shake up the way top shareholder Vivendi (VIV.PA) runs the phone group, a document showed.
TEHRAN, Young Journalists Club (YJC) - Proxy adviser Glass Lewis has recommended Telecom Italia (TIM) (TLIT.MI) investors back a proposal by activist fund Elliott to replace six board members and shake up the way top shareholder Vivendi (VIV.PA) runs the phone group, a document showed.
Elliott, which wants to improve governance and performance at TIM, has built a potential holding of 5.7 percent in the company. Last month, it called for six Vivendi-nominated board members, including TIM Chairman and Vivendi CEO Arnaud de Puyfontaine, to be replaced through a vote on April 24.
Glass Lewis also recommended that shareholders vote in favor of Amos Genish serving as the phone group’s chief executive for the next two years.
Genish was co-opted by the board last September following the resignation of his predecessor, but his appointment has to be approved by shareholders to continue beyond the April AGM.
Source:Reuters
Your Comment