According to what Radiocor learns, Luigi Gubitosi, CEO of Tim, has left his powers. The hypothesis of Pietro Labriola, current CEO of Tim Brasil, as general manager, is making headway and to entrust the delegation of CEO to the current president Salvatore Rossi. According to various sources, Labriola, thanks to the results obtained in Brazil, is appreciated across the board. Gubitosi would remain on the board as a director. The board of directors, which began shortly before 4pm on November 26, is still in progress. The board meeting, among other points, deals with Kkr’s expression of interest in 100% of Tim.
Also to allow a more serene evaluation of the fund’s proposal, on Thursday 25th Luigi Gubitosi, with a letter, informed the board that he was ready to make the proxies available. The discussion is expected on the strategies and the reorganization of the company, the revenue prospects, also following the outcome of the union council of 25, and in the light of the progress of the offer on football.
Fitch: with sale to Kkr negative consequences on the rating
The potential acquisition of Tim by Kkr, if carried out by increasing the company’s financial leverage, could have negative consequences on the group’s rating which is currently BB + with a stable outlook. This is what Fitch experts write in a report published today. «On the basis of recent examples of similar transactions in the telecommunications sector – the report reads – the financing structures tend to have a significant debt component that increases the financial leverage to levels consistent with the ratings in category” B “. “If the transaction goes ahead – continues the press release – we would re-evaluate Tim’s rating with probable negative implications”.
