Tim’s extraordinary board do the point on strategies after the disappointing results of the last quarterly report
A board of directors river lasted over six hours: is that of Tim which met today at the request of five members of the board. Goal, do the point on strategies after the disappointing results of the last quarterly report. The first and most important result, as stated in the note issued by the same company, is that “no negotiations are in progress regarding the network or other strategic assets“. This is a fundamental issue, because in recent days the rumors of one possible intention of the ex-Sip of leave control of the network to others – and he had even mentioned the name of the fund Kkr – they had taken off the stock on the stock exchange. Title that has been in the last month kept at a one-year low to this part.
A situation that will not please the shareholders, Vivendi primarily. Just the French, with Arnaud de Puyfontaine And Franck Cadoret had expressed the greater perplexity about the results obtained. And many argued that this board of directors could be the harbinger of farewell to Luigi Gubitosi. Who, for the moment, it remains in place. It may have had better days, but it remains where it is for the time being.
The network remains within Tim’s perimeter
And therefore what emerges from this extraordinary board but called without the constraints of urgency? As mentioned, the net stay within Tim’s perimeter. But on the other hand, the outcome could not have been much different from this: why Cassa Depositi e Prestiti, expression of the Mef and shareholder with almost 10% of the company, would hardly have been convinced to sell a strategic asset, perhaps to foreigners, with the sword of Damocles of golden power. Tim’s note also talks about the need for focus efforts on defining the new 2022-2024 strategic plan (which must be presented to the board of directors in February), ie the one previously announced by Gubitosi the day after the presentation of the quarterly accounts. A plan that, in any case, cannot be separated from a substantial debt reduction.
The new strategic plan 2022-2024
It is possible that a shareholding in some family jewels is being put up for sale, from Noovle to Sparkle. Just as it is plausible to think that the effect of the partnership with Dazn, which will cost 800 million between 2021 and 2024, may become more significant in the coming months. Of course, the company that won the tender for the retransmission rights of the A league he’s not exactly completing a sympathy operation. After the signal quality problems, then the blocking of the possibility of seeing the contents on two different devices at the same time (announcement later denied by Dazn himself) risked further alienating the moods of the public.
(Continued: Gubitosi’s goal? To transform Tim from a simple telecommunications company to a Tmt …)
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