May 4, 2018 / 1:07 PM / a year ago

Elliott says backs TIM CEO, wants to discuss options for network

MILAN, May 4 (Reuters) - Activist fund Elliott International said it fully backed the current CEO of Telecom Italia (TIM) and his business plan though it had a number of proposals to put forward, just after securing a majority of TIM’s board seats on Friday.

After winning a vote to appoint two thirds of TIM’s directors and dealing a blow to the phone group’s top shareholder Vivendi, Elliott said it wanted to look at options for TIM’s fixed-line network.

The U.S. fund also said it wanted to look at a possible conversion of Telecom Italia’s savings shares, a move that Vivendi has blocked in the past. (Reporting by Valentina Za, editing by Giulia Segreti)

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