0
General

Gubitosi steps down from TIM board as company reviews KKR offer

Monday 20 December 2021 | 08:45 CET | News
Telecom Italia (TIM) announced that its former CEO Luigi Gubitosi has agreed a severance package and will be stepping down from the company's board, allowing a successor to be named. The operator also said its board and an ad-hoc committee were still examining KKR's EUR 33 billion takeover offer and that it would be conducting "a thorough assessment" of the bid before releasing its data to the US fund for due diligence.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Categories: General
Companies: Telecom Italia / TIM / TIM Brasil / Vivendi
Countries: Italy
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

TIM board to meet on 21 Jan to name new CEO - report

Published 11 Jan 2022 14:20 CET | Italy | Update: 11 Jan 2022 14:49 CET
The board of Telecom Italia (TIM) will meet on 21 January to finalise the appointment of a new chief executive, reports Reuters, ...

TIM shareholders request meeting to appoint CEO - report

Published 10 Jan 2022 08:53 CET | Italy
A number of directors of Telecom Italia (TIM), above all those representing leading shareholders Vivendi have submitted a request ...

TIM and Open Fiber shareholder CDP reiterates call for single network

Published 04 Jan 2022 10:05 CET | Italy
Italian state lender Cassa Depositi e Prestiti (CDP) has revived its backing for a plan to merge the fixed network assets of ...

TIM shareholders discussing company revamp - Draghi

Published 22 Dec 2021 15:31 CET | Italy
The main shareholders of Telecom Italia (TIM) remained locked in talks about the future direction of the company in the wake of ...

Last week in telecoms: towers for sale; fibre expansion in Germany, Greece and UK; SVOD prices changing

Published 20 Dec 2021 13:24 CET | Europe
Deutsche Telekom is starting the process to sell its mobile towers, while 3 UK is facing resistance from regulators over its ...

TIM cuts FY EBITDA forecast on weaker fixed line revenues

Published 16 Dec 2021 09:11 CET | Italy
Telecom Italia (TIM) has reduced its forecast for 2021 organic earnings before interest, tax, depreciation and amortisation after ...

Telecom Italia CTO and strategy chief step down

Published 08 Dec 2021 08:57 CET | Italy
Telecom Italia (TIM) announced that its technology and operations chief Nicola Grassi as well as its chief strategy, business ...

TIM selects advisors for KKR takeover bid

Published 07 Dec 2021 08:57 CET | Italy
Telecom Italia (TIM) announced that Goldman Sachs and LionTree have been selected to advise the operator on the non-binding ...

Vivendi prepared to discuss state control for TIM's network

Published 06 Dec 2021 10:23 CET | Italy
Vivendi, the largest shareholder in Telecom Italia (TIM), is open to the possibility of ceding control of the latter's fixed ...

Unions preparing to strike over TIM takeover plans

Published 02 Dec 2021 10:22 CET | Italy
Italy's main telecommunications unions are ready to call a strike at Telecom Italia (TIM) due to uncertainty over jobs prompted ...

TIM's human resources chief steps down

Published 01 Dec 2021 10:17 CET | Italy
Telecom Italia (TIM) announced that its Director of Human Resources, Organisation and Real Estate, Luciano Sale, has reached a ...

Telecom Italia CEO resigns following KKR takeover bid, TIM Brasil CEO named general manager

Published 29 Nov 2021 08:39 CET | Italy
Telecom Italia (TIM) announced the resignation of its CEO Luigi Gubitosi following a board meeting held to discuss the EUR 10.8 ...

KKR to look at raising TIM offer to win Vivendi backing - report

Published 25 Nov 2021 09:11 CET | Italy
US investment fund KKR is considering the possibility of raising its opening bid to acquire 100 percent of the shares of Telecom ...

KKR offers nearly EUR 11 bln to acquire Telecom Italia

Published 22 Nov 2021 08:59 CET | Italy | Update: 22 Nov 2021 10:46 CET
US investment fund KKR has offered EUR 10.8 billion in total to take Telecom Italia (TIM) private in an approach it describes as ...

Gubitosi to continue as TIM CEO following board meeting

Published 12 Nov 2021 09:35 CET | Italy
Telecom Italia (TIM) announced that its board had agreed steps to prepare a new strategic plan due in February at an ...

EU approves sale of Open Fiber to Macquarie and CDP

Published 11 Nov 2021 15:27 CET | Italy
EU antitrust regulators have given their unconditional approval to the acquisition of Italian wholesale operator Open Fiber by ...

Vivendi pushing for bigger say in TIM strategy - report

Published 04 Nov 2021 10:04 CET | Italy
French media giant Vivendi is looking to increase its influence at Telecom Italia (TIM) and has called into question the position ...

Telecom Italia revenue declines 2% in Q3, cuts FY profit guidance

Published 28 Oct 2021 08:59 CET | Italy
Telecom Italia (TIM) reported revenues down 2.1 percent year on year to EUR 3.82 billion in the third quarter of 2021, compared ...