Telecom Italia Will Name CEO at Network Company, Repubblica Says

A deal to resolve a governance dispute at Italy’s new broadband network operator will see Telecom Italia SpA name the company’s chief executive officer, la Repubblica reported Sunday.

In a letter of intent due to possibly be signed on Monday between the ex-monopolist phone carrier and state-backed lender Cassa Depositi e Prestiti SpA, Telecom Italia will agree to hold fewer seats on the new company’s board -- despite being the majority shareholder -- to give CDP the leading role in setting strategy and investment planning, Repubblica said.

Bloomberg News reported last week that the agreement between the carrier and the government will see Telecom Italia as the majority owner.

Luigi Ferraris, former CEO of Terna SpA, could be a leading candidate for the top job at the new company, named FiberCop, Repubblica said. CDP will nominate FiberCop’s chairman, the newspaper reported.

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