Telecom Italia takeover gets shareholder approval

27 May 2003

93% of Telecom Italia’s [TITbl.MI] shareholders voted in favour of a takeover by Olivetti [OLIV.MI] during an eleven-hour board meeting over the weekend. Olivetti already holds 55% of the telco’s voting stock and the deal will now go ahead despite the protestations of some minority shareholders who claim that the terms are too generous.