Sunday, 11 December 2016

Telecom Italia CEO backs plan to curb major holder Telco's power

By Nick Wood, Total Telecom
Thursday 16 January 14

Activist investor Marco Fossati calls for bylaw changes; claims TIM Brasil could be worth more than $40 billion.

Telecom Italia CEO Marco Patuano on Thursday lent his support to a proposal that would reduce the influence of major stakeholder Telco, and by extension Telefonica, on its board, it emerged on Thursday. Activist investor Marco Fossati, who owns 5% of Telecom Italia, has called for changes to the company's bylaws that would increase minority shareholder representation at board level and pare back Telco's ability to appoint board members…

Telecom Italia CEO Marco Patuano on Thursday lent his support to a proposal that would reduce the influence of major stakeholder Telco, and by extension Telefonica, on its board, it emerged on Thursday. Activist investor Marco Fossati, who owns 5% of Telecom Italia, has called for changes to the company's bylaws that would increase minority shareholder representation at board level and pare back Telco's ability to appoint board members…

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