Transforming offers and services for consumer users in an innovative perspective and developing cutting-edge services for companies in terms of Cloud, IoT and Cybersecurity. It’s atssuring the network infrastructure an industrial prospect of stable and lasting growth in the interest of all stakeholders: cas anticipated by CorCom are the two pillars on which it will be founded Tim’s 2022-2024 business plan whose guidelines were illustrated to the board of directors by the newly elected CEO Pietro Labriola.
Services and Network, aka ServiceCo and NetCo the two newco that the CEO is working on, even if explicit reference is not made to them in the note issued at the conclusion of the long board of directors. What stands out, however, is uno strict control of costs and operating results, i.e. a return to growth after the season closed down by the former CEO Luigi Gubutosi that because of the you continue profit warnings and bad moves (to put it mildly) – with the Dazn operation overflowing the camel’s back – he paid the price of the board’s mistrust and in particular of the first shareholder Vivendi who after the final coup de theater, Kkr’s offer (for now still a mere expression of interest) he hasn’t seen us anymore.
But the Kkr dossier still remains on the table and the Board, in acknowledging that the ad hoc Committee chaired by Salvatore Rossi is continuing its work with the financial advisors, has decided unanimously to mandate the Chief Executive Officer to “explore possible strategic options aimed at maximizing the creation of value for shareholders, con sspecific reference to the infrastructural assets of the Group, also through solutions that involve the overcoming vertical integration “, reads the post-board note. Overcoming vertical integration it implies the creation of a company of its own. And this is in fact the solution that would have already been identified and would see Cdp in the starring role. The American fund Kkr, shareholder of Fibercop, could therefore re-enter the “window”, with a growing stake in Netco, coming out of Tim’s “door”. The “new Tim” that Vivendi wants is a Tim of services, a “media company” or “digital company” if you prefer, more aligned with the DNA of the Bolloré company that aims to become a pan-European giantThe.
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