“Telecom Italia to Co-Opt Fifteenth Director Before Kkr’s Network Offer: Vivendi’s Choice of Luciano Carta”

MILANO – After the formal request by three members of the board of directors for a board of directors urgently, and after the initiation of the procedure by the nomination committee, Telecom Italia is preparing to convene an extraordinary council for the co-optation of the fifteenth director. The meeting will be held on 29 May, therefore before 9 June when a new one is expected offer for the network by Kkrand before the board meeting on the 22nd which will eventually be called to approve it.

Vivendifor the post left empty by the CEO of the French giant Arnaud de Puyfontaine last January 16, he indicated Luciano Carta – former president of Leonardo, man of the institutions previously in charge of Aise, the external information and security agencythe secret services that have taken the place of the Earthquakes In the 2007 – that would meet the independence requirements.

Il nomination committee chaired by Paolo Bonomo he would be selecting two other candidates of standing to be put to the vote together with Carta, for cooptation.

Vivendi, first shareholder by Tim with 23.8% of the company, has long maintained that the sacrifice of the network, Telecom’s most important asset, is justified only in the face of a generous adjustment (estimated at 31 billion), but even Tim’s board of directors has so far retained the 19 billion proposed by Kkr “insufficient”.

If Carta were co-opted before 22 June, the balance in the board could change, also because the president of Cassa Depositi e Prestiti, Giovanni Gorno Tempini, could not express itself on the network given that the Cassa (9.9% shareholder of Tim and 60% of the rival Open Fiber) is in a position of conflict of interest.