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Vivendi eyes two-thirds of Telecom Italia's board

Vivendi SA notified the European Commission of its intent to get two-thirds of Telecom Italia SpA's board seats, Reuters reported April 5, citing sources familiar with the matter.

EC spokesman Ricardo Cardoso confirmed receipt of the French operator's notice, the report said. The EC is expected to release its ruling by May 12.

Vivendi's recommendations for the Italian operator's board must be approved by a majority of shareholders at the May 4 meeting.

The French company is also considering a proposal for its CEO Arnaud de Puyfontaine to become board chairman of Telecom Italia, replacing Giuseppe Recchi. Vivendi is Telecom Italia's majority stakeholder, owning 24% of the Italian operator.