Tim's first board of directors led by new CEO, Luigi gubitosi it ended without the decision that everyone was waiting for.
The mayors' recommendation on the rapid convening of a meeting to renew the appointment of the auditors was rejected and the matter will be dealt with in the board of directors convened for the next January 17th, even if, in all likelihood, the question will be resolved only in April, in the context of the ordinary meeting scheduled for the 11th.
The backlash of Vivendi that many expected therefore did not take place. The French shareholder seems willing to stall after the turnaround three weeks ago that led to the distrust of the ex to Amos Genish by the American fund Elliott.
During yesterday's board meeting, in addition to establishing the financial calendar for 2019, Tim's board of directors appointed Lucia Morselli as a member of the control and risk committee without appointing further directors to the strategic committee.
However, Gubitosi is also moving on another front and, in the reorganization of the group's organization chart, brings back the regulatory framework, currently under the legal area, under the direct control of the managing director. This was revealed by Radiocor, according to which Giovanni Moglia from Fastweb will arrive at the helm of the organ from 7 January.
The to therefore begins to build, brick by brick, the road to the legal separation process (and not owner) of the network proposed to Agcom.
In this context it should be emphasized that, according to Asstel data, in the third quarter of 2018 Tim held up better than Vodafone and Wind Tre to the ruthless competition determined by the entry into the market of the new operator Iliad. According to data cited by Il Sole 24 Ore, the revenues of the company led by Gubitosi fell by 33 million euros (-2,7% to 1,169 billion). More significant changes for Vodafone, with a decrease of 111 million (-10%) to 998 million and for Wind Tre, whose revenues from services fell by 158 million (-14,6%) to 922 million. On the other hand, reverse the proportions regarding fixed income.
At Piazza Affari Telecom Italia shares gain 1,37% at 0,5612 euro.
