Tim, pressing Vivendi: on November 26, new board of directors on strategies and governance

Crucial week ahead for Tim. After the board of 11 November which had been convened at the request of some directors including the representatives of Vivendi, a new extraordinary board of directors was convened for 26 November again at the request of some directors who are probably waiting for answers that are not still arrive. Also this time, according to what has been learned, we should take stock of the strategies of the group in view of the preparation of the Strategic Plan 2022-2024 which will be examined by the Board of Directors in February but probably there will also be the issue of concerns to be resolved. expressed by some shareholders of the group led by Luigi Gubitosi since 2018, which was reconfirmed last March. The French partner in recent weeks has made no secret of being dissatisfied with the results of the group and the front of discontent seems to have widened in these hours.

According to reports from ‘La Repubblica’, in fact, “eleven Telecom Italia directors” have signed a letter “with harsh tones, in which there is talk of mistrust and concern, asking the president Salvatore Rossi to urgently convene a new extraordinary council to discuss governance and the state of deterioration of company accounts “. The letter to Rossi, writes the newspaper, “was signed by Vivendi’s CEO Arnaud de Puyfontaine, by his right-hand man Franck Cadoret, by all five independent directors elected from the Assogestioni list and by 4 other directors with the requisites of independence, that is Luca De Meo, Cristiana Falcone, Marella Moretti and Ilaria Romagnoli. Only the president Rossi, the independent Paola Bonomo, the president of the CDP Giovanni Gorno Tempini and of course the CEO Luigi Gubitosi, did not sign the letter, which fact asks to evaluate a possible change at the top “. According to the newspaper, the board of statutory auditors also acted “by writing a separate letter to the president expressing concern for the performance of the accounts”. Meanwhile, mouths sewn by Paris. In fact, from Vivendi comes a “no comment” on the rumors leaked today.

Meanwhile, the unions say they are concerned about the rumors surrounding Tim. As explained to Adnkronos by the general secretary of Slc CGIL, Fabrizio Solari, the trade unions last week asked for a meeting with the Minister of Economic Development, Giancarlo Giorgetti to address issues relating to the telecommunications sector. “We await the response of the Mise but now, with what is emerging, the meeting is even more urgent”, underlined Solari.

The leader of the SLC CGIL says he is worried about a possible postponement of the plan. “If Tim’s industrial plan is canceled, 40 thousand jobs are also at risk”, explains Solari. “The forced choice for Tim’s future – he says – was within a choice of industrial policy that the past government had somehow endorsed – with letters of intent between Cdp, Tim and Open Fiber in August 2020 – and therefore, from then on, the company had prepared itself for a solution that had been identified and which corresponded to two main parameters: that of responding to a program of the country, i.e. equipping ourselves with a new generation network capable of satisfying all the needs of the country, and the other aspect was to find accommodation also from an industrial point of view for Tim’s 40 thousand employees. What happens now? “.

“If this hypothesis fails, as it seems seeing what is coming out in the media – observes Solari -, it is clear that even Tim’s business plan can no longer be that and it is probably for this reason also – he continues – that to date is questioned: because the CEO is the expression of that plan “. From our point of view, he added, “it is that the idea of ​​a ‘harlequin network’, that is made up of small pieces, is not only not an adequate response to the recovery of the Italian delay and the consequent digital divide that characterizes us but also puts it at risk. the holding of the main company in the sector. And this opens up a big problem from the point of view of employment, of the economic system and also of the country’s prospects “.

Fistel Cisl also says he is particularly worried. “Just a week after Tim’s last Board of Directors in these hours, confusing actions of the directors are emerging, under the direction of the shareholders who aim to overturn the corporate governance, rather than working on an industrial development plan”, explains Vito Vitale , the general secretary of the Fistel Cisl, who also denounces how politics is responsible for the state in which the former monopolist finds himself.

For Vitale, behind the maneuvers of these hours in Tim “there are nebulous aspects that affect areas of politics and shareholders, without excluding lobbies of individual interests and expectations that would not be able to give industrial responses. The repercussions of this confusion in the which Tim came to find – explains Vitale – risk to degenerate irreversibly with very serious consequences on the country’s telecommunications system, already in the hands of foreign shareholders, on internal employment and on related industries, where around 80,000 workers are employed “.

Finally, for Vitale “Tim stew is not conceivable. It is incomprehensible that the Muse summons Dzan at the request of consumers and does not confront the union on the future of Tlc in view of the resources of the NRP”.