Vivendi CEO Arnaud de Puyfontaine has resigned from Tim's board.
He is learned in financial circles.
The news had been anticipated online by Il Sole 24 Ore and arrives two days before the Board of Directors on January 18 and at a delicate moment for the TLC group, which is waiting to understand what the government's orientation will be on the network, after the stop to CDP offer.
In recent months Vivendi has not hidden his dissatisfaction with Tim's governance, and in particular with the chairman Salvatore Rossi, judged not impartial and whom the French would like to replace with Massimo Sarmi, for whom they have made room in the board through the resignation of their representative Frank Cadoret.
But Vivendi is also fighting to try to enhance its investment in Tim which, devaluation after devaluation, is generating huge losses in the financial statements of the transalpine media company.
The match on the net so far has seen very distant evaluations between the French and Cdp.
And, with Tim's resignation from the board, de Puyfontaine could
play the game with freer hands.
After the news of the manager's resignation, Tim's shares accelerated on the Stock Exchange and gained 1.5% on Piazza Affari to 0.253 euros.
