Telecom Italia: Vivendi wants to call general meeting

(CercleFinance.com) - Vivendi is disputing the decision of Telecom Italia's board of directors, which is dominated by members backed by Elliott, not to immediately convene a general meeting to vote on the appointment of new auditors.


Vivendi says that this decision goes against all rules of sound corporate governance and is a source of upset. By the end of the week it will therefore ask the board to convene a meeting as soon as possible.

This would have the purpose to appoint new auditors, as well as dismiss five current board members from Elliott - particularly those involved in these governance issues. Finally, the meeting would propose five new board members.

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