The spotlight is getting stronger and stronger Tim, once again at the center of the financial news. The first news is that the extraordinary board of directors of 11 November, wanted by five members of the board, it is not about the distrust of the CEO Luigi Gubitosi. Sources close to the ex-Sip board of directors confirm ad Affaritaliani.it that if the first intent had been the manager’s “head”, the call would have had to have some purpose as its object notation around the governance or the role of the chief executive officer.
Among other things, the sources consulted point out, there are at least two oddities: the first is that an “urgent” council could also have been formally convened within the next 48 hours, while in this case it is even wait about ten days. And then, why were the 8 hours of the board of directors not enough to present the quarterly results to fully explore Tim’s problems?
Calmness transpires from Vivendi: as far as we know, the French push for a constructive meeting in which to try to understand how to change things after the last budget. Except that the market does not seem to believe this version, proof is there new negative session which brought the stock close to 0.3 euro per share.
Nor did it help improve the sentiment the agreement reached with Fastweb – as anticipated by The print – that has allowed to save a lot of money. The request of the company led by Alberto Calcagno it was around one billion, while the transaction would have materialized with the contribution of “a few million” (as we know) and some commercial agreements.
A sword of Damocles dto a billion on a company that today is worth less than 7 billion on the stock exchange was a heavy weight. Moreover, after another agreement was reached in August, this time with Vodafone. Yet the market is not convinced and believes that this board of directors represents a way to keep on the grill Luigi Gubitosi even without saying it openly.
And above all we try to understand what the main aspects of the new course that the CEO has already announced (and of which we have given an account here https://www.affaritaliani.it/ illuminazione/tim-riigianato-strategica-noovle-sparkle-e-olivetti-i-primi-asset-764539.html) regarding the possible entry in group companies of some capital. The sum of the “pieces” that make up Tim is much higher than his valuation on the stock exchange and therefore it would make sense to imagine one reorganization and an opening to the market.
But beware: the date of 11 November is also the day after that of the final decision of the EU on the entry of Macquarie in Open Fiber in place of Enel. The extraordinary board could also be a way to get latest updates on the single network project. The technological neutrality advocated by Vittorio Colao to achieve by 2026 theUltrabroadband for everyone it cannot pass only through the single network. What is certain is that the next 10 days will be crucial for Tim’s future.
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