Generali leaves Telco. Today's Board of Directors mandated group CEO Mario Greco to “define the specific procedures for leaving the Telecom Italia holding company”. Il Leone has decided to exercise the spin-off option from Telco, in compliance with the provisions of the pact which governed the Tlc group for seven years. The agreement, explained Leone, will continue to bind Generali until the expiry date set for 28 February 2015 or, if the demerger were to be finalized earlier, until the date of its completion. The times are subject to the necessary formalities towards the competent authorities.
The first useful window for shareholders to start the procedure is between 15 and 30 June. The exit from Telco is in line with the group's strategy of actively managing its assets and will make it easier to manage the investment itself.
