Telecom Italia rejected Vivendi’s demand for an urgent shareholder vote on replacing five of the operator’s board members and instead agreed to grievances being discussed at a general meeting in late March.
In response, Vivendi accused the operator’s board of “time wasting” and added the tactic was negatively impacting Telecom Italia’s financial results every day.
The operator’s largest single shareholder, Vivendi has made a number of accusations against five members of Telecom Italia’s board, including chairman Fulvio Conti. In December it demanded a shareholder vote to remove them and elect independent replacements.
Most of its complaints surround the dismissal of former CEO Amos Genish, who remains on the Telecom Italia board alongside Vivendi CEO Arnaud de Puyfontaine.
The chapter is the latest in a long-running tussle for control of the operator.
In a statement, Telecom Italia said the issues raised by Vivendi would be discussed during a shareholder meeting on 29 March where the company’s financial statements for 2018 would be reviewed alongside a remuneration report.
It added the meeting date would ensure shareholders had “proper and adequate information set” and allow for completion of the company’s strategic plan and financial report.