Former Vivendi exec named CEO of Telecom Italia

|About: Telecom Italia S.P.A. (TI)|By:, SA News Editor

Telecom Italia (TI -0.7%) has chosen Amos Genish, formerly a top executive at Vivendi (VIVHY +0.3%), as its new chief executive officer.

That locks in some control by Vivendi -- which has a 24% stake of Italy's biggest phone company -- even amid a long public debate over whether the French firm has "de facto" control of Telecom Italia.

In a bid to satisfy Rome, TI Chairman Giuseppe Recchi will keep responsibility for assets linked to national security and defense, which includes Sparkle, its international wholesale unit.

Vivendi is appealing an Italian decision about its control, which would allow for "golden powers" including Italian vetoes of decisions that it considered a national-interest threat.