The Chairman of Telecom Italia (Tim), Salvatore Rossi, accepting the request for 11 directors, brought forward to Friday 26 November the convening of an extraordinary board of directors which promises to be at high voltage after the two profit warnings recently launched by the top company and after the rejection of the single network by the European Commission.
The CEO, Luigi Gubitosi, is under pressure but will try to relaunch by explaining exactly what he means by reorganization of the group and what strategy he has in mind for Tim. It is no mystery that the directors of the French Vivendi, which is currently the leading shareholder of the telecommunications company, are in turmoil and are tempted by the desire for a turnaround at the top, even if they do not seem to have sufficient numbers to determine new corporate balances.
The orientation of Cassa Depositi e Prestiti will be decisive, which on the one hand is the needle of the balance in Tim, where it is represented on the board by its president Gorno Tempini, and on the other has just received the green light from the EU to assume control by Open Fiber.
In this situation of great uncertainty about the future of the incumbent of the TLCs, the alarm comes from the unions who fear the dismemberment of the group after the sunset of the single network and fear new foreign incursions which, in their opinion, could endanger the thousands of Telecom Italia jobs.
