Vivendi pushes for bigger role in Telecom Italia in challenge to CEO – sources

Vivendi pushes for bigger role in Telecom Italia in challenge to CEO – sources

Information about Vivendi pushes for bigger role in Telecom Italia in challenge to CEO – sources

Kevin David


By Elvira Pollina and Giuseppe Fonte
MILAN (Reuters) – Telecom Italia’s top investor Vivendi wants to play a bigger role at Italy’s largest telecoms group, calling into question the position of CEO Luigi Gubitosi after two profit warnings in three months, two sources close to the matter said.
Telecom Italia (TIM), whose earnings last week were described as “disappointing” by a source close to Vivendi, is burdened by high debt that hampers investments at a time when Italy is stepping up digital connectivity.
French media giant Vivendi, which holds 23.8% of TIM, wants to find in accordance with Italy’s government ways to relaunch the group and extract value from its landline grid, the company’s main asset, the sources said.
TIM’s network assets are considered strategic by the government and Treasury-owned …

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