MILAN (Reuters) – Telecom Italia (TIM) will not accept less than 50% of any single broadband network but is ready to find a solution over governance, the group’s chief executive said in an interview published on Thursday.
Chief Executive Luigi Gubitosi told daily La Repubblica ideas such as TIM having a majority of the capital in any single fiber network but only a minority of the board seats or having different kinds of voting and non-voting shares made no sense.
“We can however consider governance changes such as qualified majority for certain decisions,” he said.
But he declined to give further details, saying the group had sent its position on the matter to state lender CDP in recent days and was waiting for an answer.
(Reporting by Stephen Jewkes)
