Vivendi ready to cancel its request to replace the members of Telecom Italia's Board of Directors

ROZZANO, Italy (Reuters) – Telecom Italia's largest shareholder, Vivendi, has proposed to revoke its request to replace five members of the Italian telephone group's board of directors, provided the other shareholders give their approval. announced Friday a representative of the French press group.

"We have decided not to proceed with our proposal to dismiss and replace five members of the Board of Directors, provided that this meeting is supported by this meeting," said Caroline Le Masne De Chermont, representative of Vivendi, at the Telecom Italia shareholders meeting (TIM).

"Vivendi wants the TIM Board to better reflect the company's shareholder base and be managed independently, transparently and inclusively."

Vivendi sought to replace TIM President Fulvio Conti and four other directors appointed by the Elliott Activist Fund last year, citing "a substantial lack of independence" and accused them of conspiring to dismiss former CEO Amos Genish.