TIM CEO steps down to improve chances of acquisition by KKR

Luigi Gubitosi, CEO and GM of the artist formerly known as Telecom Italia, has had his resignation accepted by the TIM board.
This move was rumoured late last week and is the latest twist in the corporate tug of war over the fate of Italian operator group TIM. It comes after private equity firm KKR made a takeover bid for TIM a week ago and substantial minority shareholder Vivendi indicated it’s not interested in selling, at least not at the offer price.
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