March 19, 2014 / 4:56 PM / 4 years ago

Telecom Italia investor Fossati proposes Gamberale as chairman

MILAN, March 19 (Reuters) - Telecom Italia’s second-largest shareholder Marco Fossati has proposed veteran Italian business executive Vito Gamberale as chairman of the phone group’s new board.

Fossati’s holding company Findim said in a statement on Wednesday that Gamberale, currently CEO of infrastructure fund F2i, helped draw up a plan to develop Telecom Italia in Italy and abroad.

The statement said the plan will be presented to investors during a road show in the coming weeks.

The proposal of Gamberale is an alternative to the candidate put forward by Telco, Telecom Italia’s largest investor.

Telecom Italia shareholders meet on April 16 to name a new board as the three-year term of the current one is due to expire. (Reporting by Danilo Masoni, editing by Agnieszka Flak)

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