Telecom Italia CEO 'relieved of powers' amid fallout from €33bn KKR takeover bid

Telecom Italia (TIM) has announced the resignation of its chief executive Luigi Gubitosi following the €33bn takeover offer launched by US private equity firm KKR. In a statement, TIM's board of directors said it had accepted his resignation and had relieved Gubitosi of his powers and has proceeded to reorganise the governance and reallocate his responsibilities. Gubitosi remains a member of the board of directors. He had been in the role since November 2018 and holds 3,957,152 shares in TIM....