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UPDATE 1-Telecom Italia ex-CEO Genish quits board -sources

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MILAN, June 27 (Reuters) - Amos Genish, former chief executive of Telecom Italia (TIM), has resigned from the company's board, two sources familiar with the situation said on Thursday.

He was a board representative for TIM's main shareholder, French media group Vivendi.

Genish's resignation comes amid increasing media speculation of a reshuffle of TIM's board as part of a possible compromise between the company's three main investors - Vivendi, activist investor Elliott and state holding company Cassa Depositi e Prestiti.

However, sources said on Thursday no other changes in the board make-up were expected imminently. Sources close to the matter say Genish will be replaced by another Vivendi-backed member on TIM's board.

TIM did not immediately respond to a request for a comment.

Last month Genish was appointed senior partner at the newly created retail bank of Brazil's BTG Pactual. Genish had been at the helm of the Italian phone group for just over a year, until last November, when he was replaced by Luigi Gubitosi.

Sources close to the matter say Genish will be replaced by another Vivendi-backed member on TIM's board.

The French group appointed five out of 15 members of the former monopoly's board, which is controlled by Elliott.

Vivendi and Elliott had been trading blows over how to revive Telecom Italia, which is saddled with more than 25 billion euros ($28 billion) of debt, but recent media reports say they may be ready to compromise on strategy. (Reporting by Elvira Pollina; Editing by Susan Fenton)