- Marco Patuano's exit from the top spot at Telecom Italia (NYSE:TI) -- along with associated board changes -- is likely to speed up a number of deals in the works for some time, observers say.
- Those include a tie-up with Mediaset and a possible deal between Mediaset's Ei Towers and TI spin-off Inwit, as well as a deal with Metroweb to divest an aging copper network.
- Patuano, said to clash with leadership at Vivendi -- which has been increasing investment in the Italian incumbent telecom over the past year -- cane to a deal last Tuesday to resign his post. TI said it was searching for a new permanent chief, with NTV chief Flavio Cattaneo a likely successor.
- "First of all, the new management will probably facilitate an agreement with Mediaset Premium in line with Vivendi’s plans to distribute content through TI’s broadband network,” an Italian telecom lawyer told CTFN.
- Vivendi has raised its stake in TI to 24.9%, just short of a threshold that would trigger a mandatory takeover attempt.