Will Massimo Sarmi really lead Telecom Italia? And, in the meantime, will all the powers remain with CEO Marco Patuano or will they be partially redistributed in favor of the interim president Aldo Minucci, who could go to institutional relations and legal representation? A few days after the clamorous resignation of the president Franco Bernabè many clouds still envelop the future of Telecom Italia. Clouds that affect the governance of society but above all revolve around the destiny of the web.
The Government, both with the Prime Minister Enrico Letta and through the words of the Deputy Minister of Development, Antonio Catricalà, who has responsibility for telecommunications, has not clearly stated that it considers the fixed telephone network a strategic asset and therefore thinks that on it there must be an Italian garrison. The ideal would be to solve the problem with the unbundling of the network infrastructure, which however requires time (at least a year and a half) and its placement in a tricolor-led newco in which there is a strong presence of Cassa depositi e prestiti, willing to intervene in the network - as foreseen by its mission - but not in the rest of Telecom's activities, which certainly cannot be defined as strategic.
However, as far as is known, the Spaniards of Telefonica do not welcome the spin-off of the network and reserve the right to enforce the dissolving clauses signed with Mediobanca, Intesa Sanpaolo and Generali at the time of the recent agreement on Telco's shareholding restructuring. In other words, if some Italian authority were to change the perimeter of Telecom, the Spaniards could decide not to make further progress in Telco but to stop at the current 66%, with many uncertainties about the future of all Telecom.
