The president of Cassa Depositi e Prestiti, Giovanni Gorno Tempiniwill be a candidate on Tim's management list for board renewal of the telecommunications group, expiring on March 31st. The proposal comes from the president of Telecom, Salvatore Rossi, who has already discussed the issue with the CDP board. The news, reported today by Republic, could favor the project to create the single network, since Cassa, a Tim shareholder with 9,85%, is also a 50% shareholder of Open Fiber (like Enel).
There is news on this front as well. The Board of Directors of CDP has in fact established to not to exercise the right of first refusal on 40% of Open Fiber that Enel has decided to sell to Macquarie and not to assert its right of approval on the Australian fund.
In this way, the Cassa will be able to negotiate the purchase of the remaining 10% of OF in the hands of Enel. If the operation went through, CDP would then have to negotiate with Macquaire one reform of governance rules. Today the Cassa chooses the president and the financial director, while Enel chooses the managing director. However, if it rises from 50 to 60% of the capital, it is possible that CDP will also claim to decide the name of the CEO.
Meanwhile, as mentioned, today Gorno Tempini will appear in the list that Rossi will present to the board for the renewal of the Board of Directors. With him there will also be the CEO Luigi Gubitosi, the CEO of Vivendi Arnaud de Puyfontaine, his right-hand man Frank Cadoret, and probably also Paola Bonomo (independent for Elliott share), Giuseppina Capaldo (independent for Vivendi share), Marella Moretti (independent Vivendi) and another independent woman. The list could also include Luca De Meo, number one at Renault and former head of marketing at FCA alongside Sergio Marchionne. In the meantime, the two councilors have resigned Massimo Ferrari and Lucia Morselli. The former is general manager of corporate and finance at Webuild, Morselli is managing director of Arcelor Mittal Italia. Both would not fall within the new criteria adopted for the definition of the majority list which this year will be presented for the first time by the outgoing board.
Tim's board will also have to approve the 2020 accounts and the new business plan.
Meanwhile, the company has issued a note on the rumors circulating about a possible agreement with Dazn for streaming distribution Serie A matches in the next three seasons. Tim specifies that he is not "among the participants in the tender called by Lega Calcio for the assignment of television rights for the three-year period 2021/2024" and that he has signed "an agreement aimed at supplementing the already existing distribution agreement, also in economic terms, conditional on the awarding of the lots to Dazn”. Under the agreement, Tim “would qualify as a telephone operator and Pay TV of reference for the offer of Dazn contents in Italyas well as for the technological partnership. The collaboration would start from July 2021 and would include all of Dazn's offer of live and on-demand sports content".
