TI Telecom Italia S.P.A. New

   By Marc Navarro Gonzalez 
 

Telecom Italia SpA (TIT.MI) said Monday that a Milan court ruled in favor of its appeal to block a vote--which was proposed by shareholder Elliott Management--to replace some board members at its shareholders meeting on April 24.

Telecom Italia said that the judge had granted the motion to stay the resolution adopted by the company's auditors to add activist investor Elliott's proposal to replace six board members affiliated with Vivendi (VIV.FR) to the agenda for the meeting.

After the decision, Elliott said in a statement that the ruling "is merely democracy delayed, not democracy denied."

The April 24 meeting will still take place, Telecom Italia said.

The company has called another meeting for May 4 to appoint a new board.

Read more about the imbroglio surrounding Telecom Italia at https://on.wsj.com/2JndT7q (WSJ paywall) or http://bit.ly/2EU0sZb (NewsPlus).

Write to Marc Navarro Gonzalez at marc.navarro@dowjones.com

(END) Dow Jones Newswires

April 23, 2018 09:10 ET (13:10 GMT)

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