Under-fire Telecom Italia CEO faces board showdown

Under-fire Telecom Italia CEO faces board showdown

Information about Under-fire Telecom Italia CEO faces board showdown

Kevin David Scam or Legit


By Elvira Pollina
MILAN (Reuters) – Telecom Italia (TIM) CEO Luigi Gubitosi faces the board on Thursday at a meeting sought by top investor Vivendi following two profit warnings in three months at Italy’s former phone monopoly.
Having failed to stem a steady revenue decline in TIM’s crowded domestic market, Gubitosi last month outlined to the board plans to squeeze cash out of the group’s assets, including its prized fixed-line grid that supplies services to millions of Italian households and businesses.
His proposals, aimed at bringing in new investors into the assets of the debt-laden company, have failed to get Vivendi’s backing at last month meeting, people close to the matter have said.
The French media group wants to have a bigger say over the fate of TIM’s network assets, …

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