Italy’s PD party pledges active government role over Telecom Italia, unions say

MILAN: Italy’s ruling Democratic Party (PD) has pledged to actively involve the government in deciding the future of Telecom Italia (TIM), the country’s biggest phone group which just lost its fourth chief executive in six years, unions said on Monday.

Luigi Gubitosi stepped down as CEO of the former state monopoly on Friday following a clash with top investor Vivendi , just a week after U.S. fund KKR submitted a 10.8 billion euro ($12 billion) proposal to take TIM private.

During his three-year tenure, Gubitosi secured union backing for a plan to create a single ultra-fast broadband network in Italy as the best way to protect 42,500 domestic jobs.