The reappointment of Labriola paves the way for a revamp centred on a planned sale of TIM’s fixed-line access network to US fund KKR.
Labriola has come under fire recently following a record stock price plunge last month.
Vivendi, one of TIM’s leading shareholders with 24%, opted to abstain from the vote despite its opposition to the KKR deal.
With this development, Labriola is in prime position to win the right to appoint two-thirds of the seats, carrying out his plan for TIM’s future.
Smaller investors Merlyn Partners and Bluebell Capital Partners, which each hold a 0.5% stake in TIM, separately challenged the reappointment.
Both have questioned the KKR deal, which is worth up to US$23.4 billion and backed by the Italian government, which holds a 10% stake in TIM.
