Telecom Italia to hold new extraordinary board meeting as pressure on CEO mounts

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Telecom Italia (TIM) will hold a second extraordinary board meeting in two weeks on Nov. 26, two sources familiar with the matter said on Saturday, as an internal war over the role of Chief Executive Luigi Gubitosi escalates.

Register now for FREE unlimited access to reuters.comwill hold a second extraordinary board meeting in two weeks on Nov. 26, two sources familiar with the matter said on Saturday, as an internal war over the role of Chief Executive Luigi Gubitosi escalates.

On Friday, S&P downgraded TIM's long-term rating to BB from BB+ due to the declines in revenue and profit.The new extraordinary board meeting was called after a letter from a group of five board members close to Vivendi and a separate request from other independent board members, one of the sources said.

 

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