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Telecom Italia CEO Patuano to leave company

2016-03-21 08:33:00| Telecompaper Headlines

(Telecompaper) Telecom Italia announced that negotiations are underway on an agreement for CEO Marco Patuano to leave the company. No details on the reason for his departure or his replacement were given. According to media reports over the weekend, Patuano has clashed with Telecom's new shareholder Vivendi over whether to sell the company's unit in Brazil. Chairman Giuseppe Recchi will assume Patuano's duties until a replacement is appointed, two unnamed officials at the operator told Bloomberg. The leading candidate to succeed him is Flavio Cattaneo, CEO of high-speed train operator Nuovo Trasporto Viaggiatori, according to the report.

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Telecom Italia admits CEO Patuano heading for the door

2016-03-21 01:00:00| Total Telecom industry news

Italian incumbent says it is holding talks with chief executive with a view to negotiating the terms of his departure.

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Telecom Italia CEO resignation confirmed

2016-03-21 01:00:00| Total Telecom industry news

Marco Patuano out the door following alleged pressure from Vivendi.

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Vivendi increases Telecom Italia stake to 24.9%

2016-03-14 08:33:00| Telecompaper Headlines

(Telecompaper) French media conglomerate Vivendi has increased its stake in Telecom Italia to 24.9 percent after acquiring just over 1 percent of the operator's ordinary share capital between 01 and 09 March, according to an SEC filing. In total, Vivendi spent EUR 145.3 million to purchase the shares, said a separate Telecom Italia filing. The French company's holding is now just under the 25 percent threshold that triggers a mandatory takeover offer under Italian market rules. However, unnamed sources cited by Reuters said the company is not expected to acquire any more shares and launch a takeover, at least in the short term.

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