1. Vivendi Steps Up Pressure for Telecom Italia Board Shake-Up

    Vivendi Steps Up Pressure for Telecom Italia Board Shake-Up

    (Bloomberg) -- Vivendi SA has stepped up its campaign to shake up the board of Telecom Italia SpA at the phone carrier’s annual meeting next month and signaled more openness to various options regarding assets. In a 48-page document that outlines concerns with directors backed by Elliott Management Corp., Telecom Italia’s largest shareholder reiterated calls to replace five directors backed by Elliott with five proposed by the French media company...

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    1. Vivendi believes that only such a board will have the credibility and trust of all shareholders to objectively analyze any industrial strategic options, including those for Telecom Italia's fixed network.
    2. Vivendi believes that Telecom Italia's fixed network is core to its value creation.
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