The news had already leaked out on Saturday afternoon, but a few minutes ago the official news also arrived: after years at Telecom Italia Marco Patuano took a step backofficially stepping down as CEO.
The effectiveness of the resignations, according to what can be read in the note issued by the company, is subject to the approval by the competent corporate bodies of the relative terms and conditions.
We recall that Patuano qualifies as a non-independent executive director and currently owns 70.000 ordinary shares (for just over 1 euro each) and 30.000 Telecom Italia savings shares.
It therefore seems that a new "victory" has arrived for Vivendi, Telecom's majority shareholder with 24,9% of the capital, which in recent days he had pushed for the CEO to leave his role in Telecom, also due to the existing frictions at the top of the company.
The company's lawyers are currently working to obtain a consensual agreement on the resignation. According to rumors reported by Bloomberg, the amount of the severance pay should be around 7 million euros, to which will also be added the liquidation accrued after 26 years of work within the company.
Piazza Affari seems to have accepted the official resignation. The Telecom Italia stock has been the center of attention since today's opening, it appears to be well bought also due to the rumors circulating about the possible agreement with Mediaset. In fact, according to the press, Vivendi is negotiating with the Biscione to reach an agreement on pay TV on the basis of which Canal+ will manage Mediaset Premium. In addition, Ei Towers is reportedly seeking to acquire a stake in Inwit, the transmission tower company controlled by Telecom Italia, despite the Government's intention to promote an agreement between Ei Towers and Ray Way.
Back to the Stock Exchange Telecom Italia shares currently gain 3,07% at 1,04 euro.
