Telecom Italia CEO says aims to maximize assets value in spin-off plan
2022.06.05 13:16
FILE PHOTO: Telecom Italia (TIM) General Manager Pietro Labriola poses for a portrait at the company’s headquarters in Rome, Italy, January 17, 2022. REUTERS/Guglielmo Mangiapane/File Photo
TRENTO, Italy (Reuters) – Telecom Italia (BIT:TLIT) (TIM) will pursue a plan to separate its landline network from its service operations to maximize asset value in the interest of its shareholders, the head of Italy’s biggest telecoms firm said on Sunday.
“The most important thing is to maximise the value of all assets in the interest of all shareholders,” Pietro Labriola said, speaking at an economic event in the town of Trento.
Telecom Italia’s top investor Vivendi (OTC:VIVHY) would only back a sale of the Italian phone group’s fixed network if it adequately valued TIM’s main infrastructure asset, the CEO of the French group said last week.
