Proxy Adviser ISS Sides With Elliott in Battle For Telecom Italia --Market Talk
12 Mars 2019 - 12:07AM
Dow Jones News
The ongoing spat between Telecom Italia shareholders Elliott
Management and Vivendi continued as Elliott flaunted proxy adviser
ISS' recommendation to vote against Vivendi's proposals in a
statement. ISS backed Elliott by saying it believes Vivendi hasn't
made a compelling case to overhaul Telecom Italia's board. Vivendi
said Friday it is "extremely concerned" by a report from Telecom
Italia's auditors that it says confirms the existence of serious
irregularities related to the governance of the company and its
board of directors. The comments come ahead of a March 29 meeting
at which Telecom Italia shareholders will vote on a proposal to
remove five board members backed by Elliott.
(patrick.thomas@wsj.com ; (@PatThomas1318)
(END) Dow Jones Newswires
March 11, 2019 18:52 ET (22:52 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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