Telecom Italia Board Disagrees With Auditors' Report on Shareholder Elliott

By Patrick Costello

Telecom Italia's (TIT.MI) board of directors disagrees with an auditors' report saying that shareholder Elliott Capital Advisors exercises "significant influence" over the company, the Italian company said late Monday.

Telecom Italia's board said the report from the company's board of statutory auditors doesn't "consider the details required by the law to be met."

The board reached its decision by a majority vote with three abstentions, it said.

Telecom Italia shareholder Vivendi SA (VIV.FR) has been locked in a battle with activist investor Elliott Management Corp. over the Italian company's strategy and board since early 2018.

Write to Patrick Costello at patrick.costello@dowjones.com.

(END) Dow Jones Newswires

May 07, 2019 03:33 ET (07:33 GMT)

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