MILAN : Telecom Italia General Manager Pietro Labriola will on Tuesday outline to the company's directors his plan to revamp the former phone monopoly, an alternative strategy to weigh against a takeover approach by U.S. fund KKR.
Doubts over whether KKR's tender offer will materialise weighed on TIM shares on Tuesday, which fell 3.2per cent by late morning, underperforming a 0.8per cent all-share index drop.Labriola is studying a range of options to KKR's offer, two sources familiar with the matter have said, looking in particular at splitting TIM's infrastructure and services assets to try and appease all of the group's stakeholders.
Tuesday's informal briefing with directors is seen as a key step for Labriola to secure wide board support on Friday for the CEO role which has been vacant since November when Luigi Gubitosi was ousted after a string of profit warnings.
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