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Tag: italia
Telecom Italia chairman could resign report
2013-09-28 16:03:00| Telecompaper Headlines
(Telecompaper) Telecom Italia Chairman Franco Bernabe is considering resigning at a board meeting scheduled for 03 October, a source close to the situation said. The source told Reuters, "We are heading towards a resignation." Bernabe has spoken out against possible plans by Telefonica to sell some of the company's most valued assets once it gains control of its Italian rival. A second person familiar with the situation said COO Marco Patuano could take up Bernabe's powers to ensure management continuity and that its core shareholders would name a new chairman with a broadly representative role. Poste Italiane CEO Massimo Sarmi is the candidate favored by the Telco shareholders as Bernabe's replacement, people familiar with the matter told Bloomberg. Bernabe is expected to present a strategic plan to the board on 03 October that may include a capital increase of up to EUR 5 billion to cut debt and fund investments. However the board is thought to be divided, as its core investors are reluctant to inject fresh cash into the company. In a parliamentary hearing earlier, Bernabe said Telecom Italia needed to raise fresh capital to avoid a credit rating downgrade to 'junk' status and that the best way would be through a capital increase.
Tags: report
italia
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telecom
Telecom Italia chief Bernabe considering resigning: source
2013-09-28 03:15:43| Telecom - Topix.net
Behind the scenes at Google as the company marks the 15th anniversary of the collaboration of Larry Page and Sergey Brin in a Menlo Park garage in September 1998.
Tags: source
chief
italia
telecom
UPDATE 3-Telefonica faces opposition to Telecom Italia plans
2013-09-26 01:24:11| Telecom - Topix.net
Telecom Italia's chairman, its independent directors and Italian politicians spoke out on Wednesday against suspected plans by top shareholder Telefonica to sell some of the company's most valued assets once it has won control.
Tags: update
plans
italia
faces
Telefonica, Telecom Italia may be forced to sell some Brazil assets
2013-09-25 02:00:00| Total Telecom industry news
Spanish operator's deal with Telco causes competition concern for Brazilian comms minister.
Tags: sell
italia
brazil
forced
Telefonica strengthens grip on Telecom Italia: source
2013-09-24 05:41:49| Telecom - Topix.net
Spanish telecoms company Telefonica has agreed to hike its stake in rival Telecom Italia , a source close to the deal said, ending months of speculation on the future of the debt-laden Italian group and opening the way to asset sales.
Tags: source
italia
telecom
grip
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