TIM’s CEO ready to step aside to facilitate assessment of KKR’s bid – ANSA


FILE PHOTO: The Tim logo is seen at its headquarters in Rome, Italy November 22, 2021. REUTERS/Yara Nardi/File Photo

November 25, 2021

MILAN (Reuters) – Telecom Italia Chief Executive Luigi Gubitosi said on Thursday he was ready to step aside in order to allow the group’s board to make a smoother assessment of KKR’s takeover proposal, ANSA news agency reported.

In a letter to the board members, Gubitosi added that the board should not put off the decision on KKR’s bid as it could be interpreted as defending interests of certain shareholders, Ansa reported.

TIM’s top investor Vivendi was not immediately available for comment.

(Reporting by Elisa Anzolin, editing by Maria Pia Quaglia)

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