Telecom Italia rebel investor says to fight past December meeting
ROME (Reuters) - Telecom Italia 5 percent investor Marco Fossati said on Wednesday there might not be enough shareholder support to approve his proposal to remove the board at a general meeting on December 20 but his fight will not end there.
"We might not have the number of votes (to remove the board)...but we are committed," Fossati said on the sidelines of a small shareholders' conference in Rome. "This will not finish in December."
Italy's largest phone group is the target of a campaign by Fossati and small shareholder group ASATI to oust the company's board, which they say caters more to the interests of core shareholders such as Spain's Telefonica than to other investors.
The shareholder campaign gained some traction on Wednesday as powerful proxy adviser ISS, which advises institutional investors, recommended a vote in favour of the board's removal.
(Reporting by Stefano Bernabei, writing by Danilo Masoni, editing by Isla Binnie)
