(Finance) – “In a crucial sector such as telecommunications, Italy cannot afford to let the interests of individual private investors prevail compared to those of the country”. This is what the president of Federmanager, Stefano Cuzzillaafter the BoD of TIM has decided to postpone the deadline for the final offers for the network (NetCo) again.
“Without wishing to express an assessment of the merits of the purchase offers received for NetCo la stalemate that has been created leaves us perplexed and exposes the company to speculative maneuvers“, points out Cuzzilla, adding that “the main concern is that of avoid a confrontation between shareholders which can only harm the Society”.
“We hope that the Government make its voice heard protecting the value of a national strategic asset, says the head of Federmanager, who is concerned about the safeguarding employment and strategic infrastructure.
“It is not the first time that the dynamics of Tim’s shareholding have put a brake on the Company’s competitive development. Now there is even the risk of immobilizing itdespite i good results achieved so far by its management. In a highly competitive sector, with a critical economic context – specifies the president of the Italian managers -, the Group’s management is achieving the expected objectives, achieving the economic-financial targets set by the industrial plan, for which it is necessary to guarantee stability to the governance and management continuity”.
“The management – explains Cuzzilla – it has no prejudicial positions with respect to potential buyers but he is concerned that the right decisions are taken to guarantee Tim’s industrial competitiveness, putting the interests of all shareholders, workers and consumers first and foremost”.
A position shared on Linkedin also by NoiD Telecom, the women’s association of the Tim group which boasts over 1,900 followers, which reiterates its support for the group’s CEO. “Over the last nine years, the #TIM Group has had the position of Chief Executive Officer rotate about every year and a half, – reads the social network – with a discontinuous governance which has never allowed the creation of a strategic plan with a long-term vision. A continuous situation instability which would weaken any industrial group”.
“The hypothesis of a further change of course announced but not yet clarified in its details and its effects – it is stated – they seem to us very critical in this market context and as professionals of the Group we express our deep regret. We believe stable governance is necessary for TIM both to regain confidence from the markets and public opinion, and to improve business performance and carry on ordinary and extraordinary transactions. This is in the interest of all the people of TIM, both of all the shareholders and of the company’s role in the #development of the #country”.