FORMER MONOPOLY
Telecom Italia head to exit over tension with government
Paris/Milan — Mounting tensions between Telecom Italia’s CEO and its biggest shareholder, Vivendi, are threatening to bog down the carrier’s turnaround progress and put an early end to Flavio Cattaneo’s 16-month tenure. Cattaneo is negotiating a possible exit after the dispute escalated in recent weeks, according to people familiar with the matter. Cattaneo is concerned that he can no longer manage Italy’s largest phone carrier the way he wants, and does not want to risk tarnishing his image and reputation by staying, said the people, who asked not to be identified. Vivendi, meanwhile, is unhappy with the CEO’s recent politically charged comments. Cattaneo, a media-industry veteran, came on in March 2016 with Vivendi’s support and a mission to revitalise the former monopoly. While he has overseen domestic cost-cutting and wrung more revenue from broadband investments, the stock has declined about 17% during his tenure. Vivendi, the French media company led by chairman Vincent Bollor...
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