KKR's bid target Telecom Italia set to make veteran manager Labriola CEO

By Reuters

Telecom Italia (TIM) is set to appoint General Manager Pietro Labriola as CEO on Friday as the former phone monopoly weighs a response to a takeover approach by U.S. private equity investor KKR. Labriola, a veteran TIM executive who has run TIM's Brazilian operations for the last three years, was promoted to general manager in November, when former CEO Luigi Gubitosi stepped down following a string of profit warnings. Under pressure for years in its competitive domestic market, debt-laden TIM needs to upgrade its network to meet Italy's digital plans to boost broadband speeds for millions of households and businesses.

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Via:: Sports Headlines


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