Telecom Italia open to find solution on single fiber optic network, open to governance issue as well: CEO

On Thursday, in an interview to Italian daily La Repubblica, the CEO of Telecom Italia (TIM) stated, TIM will not accept less than 50% of any single broadband network but is ready to find a solution over governance of the company.

“Ideas such as TIM having a majority of the capital in any single fiber network but only a minority of the board seats or having different kinds of voting and non-voting shares made no sense,” said TIM’s CEO Luigi Gubitosi while adding, “We can however consider governance changes such as qualified majority for certain decisions”.

He declined to divulge any further details saying the group had sent its position on the matter to state lender CDP in recent days and was awaiting an answer.

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