January 15, 2014 / 1:10 PM / 4 years ago

Telecom Italia's Fossati asks for governance changes

1 Min Read

MILAN, Jan 15 (Reuters) - Telecom Italia's rebel shareholder Marco Fossati has asked for a change to the Italian phone group's by-laws to give minority investors greater board representation, a document showed on Wednesday.

In a letter sent to Telecom Italia's board, Fossati's Findim Group, which owns 5 percent of the company, asked for a proportional voting system to be introduced.

According to rules currently in place, the slate of board member candidates which gets majority backing has the right to appoint four-fifths of the board members.

Reporting by Stefano Rebaudo, writing by Agnieszka Flak, editing by Stephen Jewkes

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