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Exclusive: Vivendi ready to support other investor-backed strategy at Telecom Italia to boost share price

Reuters  |  MILAN 

(Reuters) - Telecom Italia's main shareholder believes in the phone company's new strategic plan but is ready to consider any move supported by shareholders to boost its share price, a told on Wednesday.

Last week activist fund said it had taken a stake in (TIM) and was ready to replace board members in a drive to improve strategy, value and governance.

The said was ready to consider suspending his executive functions at the phone incumbent during the period devoted to this strategic debate.

"repeatedly attacks States and companies... and is known for its financial approach focused on short term gains, most probably leading in this case to dismantling TIM," the said.

owns around 24 percent of TIM.

(Reporting by Agnieszka Flak, writing by Stephen Jewkes)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 14 2018. 23:31 IST