January 28, 2022

Wire Service Canada

Complete Canadian News World

Tim, accounts don’t add in phone group just liquidated with 7 million (and excused) ex of Luigi Gubitosi

Accounts do not add in Tim. French partner Vivendi He asks and gets the former number one boss Luigi Gobitossi. Imagine Actions responsible. But in the meantime, the shareholders are willing to pay Tim’s first liquidation amount 6.9 million tuning one Compensation. Gubitosi is then rested by Financial responsibility From his normal work in the company. A particularly important privilege given that the company’s results are rapidly deteriorating and the agreement for the company is under discussion league arrived with dozen. Meanwhile, the Council again deferred judgment on an expression of interest Kkr . US Fund He would be willing to put it on the plate 40 billion To discover the entire collection, continue to Disconnect the network from the services Telephone contacts and make the necessary investments to re-launch. With the restructuring that will follow.

In short, the situation is particularly sensitive. It is a major concern for unionists and politicians who fear Possibility layoffs and social tensions. Not surprisingly, while Tim’s adviceleague leader, Matteo Salvini, asked the government to “stay tuned Avoid clearance sales and cooksA job congruent with the position of Minister of Economic Development, Giancarlo Giorgettiwhich, however, so far, despite promises, did not untie the knot conflict of interest and role Cassa Depositi e Prestiti, partner of both Tim and rival Open the fiber. However, everyone agrees on one point: strategic assets must be protected and special powers (the so-called golden power) is the tool to do that.

So while At the doors of Tim knocks Kkr . Fund Who would like to replace the French VivendiOn Thursday, December 16, the phone company was forced to review the pound Earnings forecast This year, investors are worried for at least three reasons. The first is that Third downward adjustment Sudden release in just six months. The second is that the profit alarm will start from board of legal reviewers, after checking PwC auditor. Reason? For the consulting firm, management’s estimate of the fruits of the agreement with Dazn to distribute Serie A TIM would have been overly generous (There will be approx 540 million is too much). And the third is that Tim scaled up Sales forecast On landline in Italy: In practice, the company had to take into account that in its main market i revenue 2021 probably By 6-7 percent It caused profitability (gross margin) to shrink between 13 and 15 per cent. In other words, the former monopolist had to indirectly admit that he was upset Competition from Open Fiber, controls it Cassa Depositi e Prestiti.

READ  Gas, those unused fields that others are exploiting and we don't (to lower the billing price)

In this scenario, it is very necessary for management to find the right balance industrial activities. It is not surprising that the new general manager, Pietro Labriola, I immediately pledged to renegotiate the contract with Dazn. For the former monopolist, the goal is to mark one Guaranteed minimum discount by 340 million per year over the next three years. Dazn clearly doesn’t like cucumbers. With the result likely that everything Finish with stamped papers. With plenty of needed millionaire allocations on the balance sheet and legal expenses in the account. Option, the latter, which would justify aResponsibility procedures Against the former number one player Gubitosi. This scenario would penalize Tim severely in the stock market by further compressing the value of the stock which on Friday was €0.44 versus the €0.505 proposed by Kkr in his group. Expression of interest.

In the background the question remains stock. the Kkr . US Fund It hasn’t been officially announced yet. But he made it clear that he was ready to bomb 40 billion Ten of them are for presentation and 30 are for investments needed to get the company back into competition. But Vivendi is not ready to leave the place. Also because she is convinced that Tim can be more valuable than the amount Kkr is giving by disconnecting the network from the phone services. He aims to be dominant in Tim’s transformation along with Cassa Depositi e Prestito. In this way, the foundations will be laid for one possibility merger The network company with its rival Open Fiber, the old project of the former prime minister Giuseppe Conte. In short, in the battle of Tim’s conquest, it now seems clear that whoever wins will then move on to one Difficult renewal and reorganize More than 40 thousand employees The former monopoly of Italian phones. Unless the government finds a solution that saves goats and cabbage. But this can be very expensive for the pockets of Italians.

READ  2022 Internet Bonus, coupon over two thousand euros: how to get it