Luigi Gubitosi has resigned as CEO and General Manager of TIM S.p.A. He remains a member of the Board of Directors and holds 3,957,152 shares in TIM.
TIM’s Board also appointed Pietro Labriola as General Manager. Over the last 20 years, Labriola has worked within the TIM Group in a variety of positions of increasing responsibility until he took over global leadership of the Group’s activities in Brazil.
https://www.gruppotim.it/en/press-archive/corporate/2021/PR-CdA-TIM-26112021-en.html
KKR bids $12 billion for Telecom Italia Group
TIM’s Board of Directors met to discuss a bid from Kohlberg Kravis Roberts & Co. L.P. (“KKR”) to acquire and privatize the company. The offer is for Euro 0.505 per ordinary and/or savings share, the equivalent of about US$12 billion for the group.
The offer is considered provisionary as the companies perform due diligence. A deal would require clearance by key stakeholders in the Italian government and possibly the Brazilian government, as well as by shareholders.
From TIM’s recent Q3 investor presentation:
https://www.gruppotim.it/it/investitori/informazioni-regolamentate.html
