Activist Elliott building fresh stake in Telecom Italia. : Activist investor Elliott Management is building a stake in Italian telecom operator Telecom Italia (TIM) to counter how its largest investor Vivendi SA is running the company, Bloomberg reported, citing sources. Elliott is considering nominating directors to Telecom Italia's board and will also push for other changes at the company, Bloomberg said.The hedge fund is concerned about the telecom operator's stock slump and business performance since Vivendi took majority control of the company's board in 2016, Bloomberg added.