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Exclusive: Vivendi CEO could suspend powers as Telecom Italia chairman after activist move

Reuters  |  MILAN 

By Agnieszka Flak MILAN (Reuters) - Vivendi CEO Arnaud De Puyfontaine may suspend his executive powers as chairman of Telecom Italia to support a debate on strategy after activist fund Elliott built a stake in the former state phone monopoly, a Vivendi spokesman said.Last week Elliott Advisors said it had taken an unspecified stake in Telecom Italia (TIM) and was ready to replace board members in a drive to improve strategy, value and governance.The move was widely seen as a challenge to the way top investor Vivendi runs the company."During the period devoted to this strategic debate, Arnaud ...

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First Published: Thu, March 15 2018. 01:40 IST