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Telecom Italia promises higher returns as Elliott emerges

Reuters  |  MILAN 

By Agnieszka Flak and Stephen JewkesMILAN (Reuters) - Telecom Italia (TIM) held out a promise of richer shareholder returns hours after activist fund Elliott Advisors threatened to try to shake up the way top shareholder Vivendi runs the company.Elliott said on Tuesday it had built an unspecified stake in TIM and was ready to replace some members of the board to improve strategy, value and governance at Italy's biggest phone group. Setting out its plan for 2018-20, TIM sought to convince investors it could reverse years of sluggish share price performance and cope with new rivals that are ...

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First Published: Wed, March 07 2018. 18:15 IST