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Elliott Urges Change at Telecom Italia in Fight With Vivendi

  • Activist investor Singer seeks to oust six board members
  • Top shareholder Vivendi accused of ignoring investor interests
Updated on

Billionaire Paul Singer’s Elliott Management Corp. stepped up its campaign for a board overhaul at Telecom Italia SpA amid a deepening fight for dominance with the company’s biggest investor.

The New York-based activist hedge fund, which said it owns more than 5 percent of the Italian telecommunications provider, accused the company’s largest shareholder, Vivendi SA, of running it in a way that is counter to the interests of other investors.