March 28, 2018 / 8:36 AM / a year ago

CORRECTED-Activist investor signs pact with leading Retelit shareholders for board renewal

(Corrects to read 9.99 percent, paragraph 2)

MILAN, March 28 (Reuters) - Activist fund Shareholder Value Management has signed an accord with leading investors in Italian telecoms infrastructure group Retelit to elect a new board next month.

The pact represents 24.36 percent of Retelit’s capital after Shareholder Value Management teamed up with Bousval, the single biggest investor with a 14.37 percent stake, and 9.99 percent shareholder Axxon, a document on the company’s website showed.

Shareholders in Retelit will meet to pick a new board on April 27.

Reporting by Maiya Keidan, writing by Valentina Za, editing by Agnieszka Flak

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