October 4, 2013 / 4:56 PM / in 4 years

Telecom Italia CEO to present new plan Nov 7 - union official

ROME, Oct 4 (Reuters) - Telecom Italia new chief executive Marco Patuano has told a meeting of trade unions he will present a new business plan at a board meeting on November 7, a union official who was present said on Friday.

Giorgio Serao, Fistel-Cisl union leader, also said a decision on the future of the company’s South American units Tim Partecipacoes and Telecom Argentina will be outlined under the new plan.

According to Serao, Patuano told unions that Telecom Italia’s plan to spin off its Italian fixed-line network will depend on decisions by communications regulator Agcom and the government.

Patuano was named CEO on Thursday after longstanding executive chairman Franco Bernabe resigned over a strategy clash with shareholders, raising expectations of possible asset sales. (Reporting By Alberto Sisto, writing by Danilo Masoni, editing by Isla Binnie)

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