Telecom Italia sees CdP signal it is ready to increase stake following victory of Elliott slate in BoD elections (translated)
05 MAY 2018
Cassa Depositi e Prestiti (CdP), an investment vehicle of the Italian Treasury, is ready to increase its stake in Telecom Italia (TIM) [BIT:TIT], Italian language daily Il Sole 24 Ore reported. The report cited a spokesperson for CdP that also welcomed the victory of a slate for TIM's board of directors promoted by activist hedge fund Elliott over a rival slate backed by TIM's largest shareholder French media group Vivendi [EPA:VIV].
The Cdp spokesperson said that any increase in the 4.9% stake held by CdP would take place over the long term.
The report added that the CdP would also look to have representation on the TIM board.