Tim, Letta: “Great concern for the future of the company”

The secretary of the Democratic Party spoke on the affair of the company, after the CEO Luigi Gubitosi gave up the powers. “On Monday morning we will meet the representatives of the many workers of the company,” he wrote on Twitter

“Great concern for Tim’s future, a fundamental asset of the country and the pivot of many of the main modernization missions that are present in the Pnrr. On Monday morning we will meet the representatives of the many workers of the company”, so on Twitter the secretary of the Democratic Party Enrico Letta spoke on the affair of the company. Yesterday the CEO and general manager of the company, Luigi Gubitosi, handed over the powers to the board of directors.

The solution to unlock the Kkr

Gubitosi, in a very long meeting, which lasted almost 6 hours, resumed the proxies as a solution to unblock the Kkr dossier. The step is to entrust the powers he had as CEO to the president Salvatore Rossi and replace him in the position of general manager with Pietro Labriola, who will remain CEO of Tim Brazil. For the examination of Kkr’s proposal, an ad hoc Committee was created in which, in addition to Rossi himself, Paola Sapienza, who – appointed Lead Independent Director – will in a certain sense be the guarantor of the market. Together with three other directors Paolo Boccardelli, Marella Moretti and Ilaria Romagnoli, they will start “promptly” and with the support of the advisors (Goldman Sach and Intes Sanpaolo should be appointed, ed) the preliminary activities to then allow the Board of Directors to evaluate the fund proposal USA.

The Kkr

The data room could open as early as next week and the 4 weeks requested by Kkr will be, according to expectations, a sort of ‘roadshow’ between institutions rather than a classic due diligence. “As President Mario Draghi has already said, there are three axes on which we are moving” for an evaluation regarding the offer of the American fund Kkr, recalls in this regard the Authority delegated to the Security of the Republic, Franco Gabrielli, interviewed by Corriere Tv. The undersecretary, who is part of the Committee, chaired by the Minister of Economy, Daniele Franco, recalled that the stakes will be placed on the “protection of employment levels, technologies and infrastructures”.

The reaction of the trade unions

Meanwhile, the unions remain on a war footing and for Monday confirm the joint mobilization in defense of Tim’s workers, with a garrison at the Mise and in front of the prefectures of all Italy. The company will meet them on December 1 and Lega leader Matteo Salvini also says he wants to meet them.