(Bloomberg) —
Telecom Italia is still discussing its new strategy and has not yet reviewed its financial targets, the Italian company said in a statement.
The phone carrier targeted in November by KKR & Co.
denied reports by local media which earlier said the company was seeing “negative growth” until 2024. Some directors are asking new Chief Executive Officer Pietro Labriola for “more ambitious targets,” Il Messaggero reported earlier on Sunday.
The company “expresses its annoyance and concern on such reconstructions, which are to be considered unfounded and harmful.”
Telecom Italia will unveil its new business plan at a board meeting scheduled for March 2.
The plan is aimed at spinning off the carrier’s landline network into a new unit focused on wholesale services, with the goal of gaining a solid revenue stream from regulated tariffs, people familiar with the matter told Bloomberg last month.
The plan could also see all of the company’s commercial services spun off into a separate unit, they said.
Read more: KKR May Oppose Telecom Italia’s Grid Spinoff Plan: La Stampa
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