Sunday, 29 May 2022

New TIM CEO reignites Italian single network hopes

by Harry Baldock, Total Telecom
Monday 24 January 22

The promotion of TIM Brasil CEO, Pietro Labriola, to the role of Group CEO could mean bad news for KKR’s takeover bid and increase the appeal of the Italian single network proposition

On Friday, Italian incumbent operator TIM announced that they had selected Pietro Labriola to replace the outgoing Luigi Gubitosi as Group CEO.  Labriola, who had served as the CEO of TIM Brasil for three years, was considered the frontrunner for the position, having quickly secured the backing of both Vivendi, TIM’s largest individual shareholder, and Italian state investment bank Cassa Depositi e Prestiti (CDP). The change-up dates back to November, when private investment firm KKR first offered to takeover TIM for roughly $12 billion…

On Friday, Italian incumbent operator TIM announced that they had selected Pietro Labriola to replace the outgoing Luigi Gubitosi as Group CEO.  Labriola, who had served as the CEO of TIM Brasil for three years, was considered the frontrunner for the position, having quickly secured the backing of both Vivendi, TIM’s largest individual shareholder, and Italian state investment bank Cassa Depositi e Prestiti (CDP). The change-up dates back to November, when private investment firm KKR first offered to takeover TIM for roughly $12 billion…

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