Telecom Italia CEO ready to step aside to speed decision on KKR offer: Report

telecom italia ceo ready to step aside to speed decision on kkr offer report

Sumary of Telecom Italia CEO ready to step aside to speed decision on KKR offer: Report:

  • MILAN: Telecom Italia CEO Luigi Gubitosi has told its board that he is ready to step aside if that would help speed up a decision on a takeover approach by US private equity group KKR, sources told Reuters on Thursday.
  • KKR has made a 10.8 billion euro (US$12 billion) offer in the midst of a boardroom row between Gubitosi and the former Italian telecoms monopoly’s top investor Vivendi.
  • Gubitosi said in a letter sent to the board on Thursday that it was time to take action, appoint advisers and make a decision on KKR’s offer, the sources told Reuters, confirming an earlier report by Italian news agency Ansa.

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