- In its continuing transition, Telecom Italia (TI +1.5%) has named Vivendi (OTCPK:VIVHY -1.5%) CEO Arnaud de Puyfontaine its deputy chairman.
- It's a non-executive role for the moment, but it ties de Puyfontaine closer to TI's strategic direction in a year where the French media giant has muscled in to assert greater control over the Italian incumbent telecom, with an eye to making a southern European media hub.
- TI CEO Marco Patuano left the company in March amid what was widely reported disagreement with Vivendi's approach, including the disposition of Brazilian unit TIM Participaçoes (TSU -2.7%).
- Patuano's exit (and de Puyfontaine getting closer to strategy) might accelerate pending deals at the carrier, including not only a potential Brazil deal but network and tower deals in Italy.