In Telecom an era ends. As announced, the executive president Franco Bernabè has resigned during the board meeting.
The resignation marks the disagreement between the Chairman and Telco's block shareholders on the recapitalization: Bernabè had been asking for a capital increase of 3-5 million euros for some time to avoid downgrading and relaunch the group, but Telco has always opposed it, complying with the guidelines of Telefonica, which instead plans to raise cash with the sale of Tim Brasil when he assumes the leadership of the major Italian telecommunications operator.
Temporarily the role of Bernabè (but not the powers) will be taken on by the director Aldo Minucci, on a Generali basis, while Marco Patuano will remain the managing director. The former rector of Bocconi Angelo Provasoli also enters the Board of Telecom Italia, in place of Catania.
One hour after the close of the markets, Telecom Italia's share on the Stock Exchange loses about half a percentage point.
