Judge's ruling pushes Telecom Italia board fight to May 4

|About: Telecom Italia S.P.A. (TI)|By:, SA News Editor

A judge's ruling has handed a partial win to Telecom Italia (TI -1.8%) and top shareholder Vivendi (OTCPK:VIVHY -1.3%) as they battle a board revolt led by Elliott Management.

The ruling grants an appeal by the company to block a vote on some Elliott board replacements at a shareholder meeting set for tomorrow.

Tomorrow's annual general meeting will still approve 2017 financials and confirm Amos Genish as the Telecom Italia CEO, but the board fight will come at a May 4 meeting triggered by the resignation of eight Vivendi nominees. That later stand-off will decide full control of the board, with the winner appointing two-thirds of seats.

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