Newly appointed Pietro Labriola (pictured) presented the outline for the plan to boost shareholder value
TIM announced that its board of directors met today under the chairmanship of Salvatore Rossi. During the meeting TIM CEO Pietro Labriola presented the guidelines of the 2022-2024 industrial plan, which he will submit to the board on 2 March.
The CEO highlighted the need to:
• transform consumer products and services;
• focus on the enterprise services such as cloud, IoT, and cybersecurity, leveraging the Group’s expertise and technological know-how;
• and control operating costs and operating profits.
The CEO underscored the need to guarantee a stable, long-lasting outlook for growth from the network infrastructure, in the interest of all stakeholders.
The board unanimously agreed – which has been a rare thing in recent times – 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.
The Board acknowledged that the ad-hoc committee appointed to analyse the indicative and non-binding expression of interest sent by KKR & Co is working with financial advisers to and will compare it with the Group’s outlook and strategic alternatives that will be considered under the plan.