The board of Telecom Italia (TIM) has given CEO Pietro Labriola “a mandate to explore strategic options”.
During a meeting Labriola presented the guidelines of the 2022-2024 industrial plan, which he will submit to the board on March 2.
Labriola “highlighted the need to pursue a transformation process of the offering and services for the consumer segment; and to focus on the enterprise services such as Cloud, IoT, and Cybersecurity, leveraging the group’s expertise and deep technological know-how, as well as the control of operating costs and operating profits”.
Furthermore, he “underscored the need to guarantee a stable, long-lasting growth outlook for the network infrastructure, in the interest of all stakeholders. In this context, the board unanimously agreed to give the CEO a mandate to explore strategic options to maximise shareholder value, with specific reference to the group’s infrastructure assets, including solutions that go beyond vertical integration”.
TIM also said that it continues to analyse the non-binding expression of interest it has received from KKR & Co.