A hacking attack attempted to exploit a software weakness on a wide scale. IT systems affected include those of Telecom Italia (TLIT.MI) and Cittadio Italiano (CIT). According to Italy National Cybersecurity Agency (ACN), which warned organisations to take action to secure their systems. Thousands of computer servers worldwide have been targeted by a ransomware cyber … Read more
Telecom Italia (TIM) (TLIT.MI) will pursue a plan to split its landline network from its service operations. Italy’s former phone monopoly is seeking to revamp its business via separation of its domestic fixed network assets and focusing on consumer and commercial activities. As a feature of a fundamental settlement fixed with Italian state moneylender CDP … Read more
ROME: Telecom Italia chief executive Luigi Gubitosi has resigned, news reports said on Friday, amid increasing pressure on the top management by shareholders, including France’s Vivendi. The departure of Gubitosi, who has been at the helm of the struggling telecom company since May 2018, comes in the wake of a nearly 11 billion euros buy-out offer … Read more
RIYADH: KKR & Co, an American global investment company, plans to buy all of Telecom Italia, Bloomberg reported, citing sources familiar with the matter. The move aims at revamping the Italian telecommunications company that’s seen its market value fall more than 8 per cent to €7.4 billion ($8.4 billion) this year. The US company plans to separate … Read more
