ROME (dpa-AFX) - Vivendi SA (VIV.L, VIVEF.PK) is considering using its board clout at Telecom Italia SpA to install a trio of executives to manage the phone company if it can't resolve differences with Chief Executive Officer Flavio Cattaneo, Bloomberg reported citing people familiar with the matter.
Under the plan, Vivendi Chief Convergence Officer Amos Genish would oversee Italy's largest carrier on the operating side, while Telecom Italia Deputy Chairman Giuseppe Recchi would see his powers increased, with a focus on relationships with Italian regulators. Both would work with Telecom Italia Executive Chairman Arnaud de Puyfontaine, who is also Vivendi's CEO, the report said.
Vivendi may change the governance of the Italian company to avoid having too much power given to a single executive, though management structure is still being evaluated, the report said. While a deadline to resolve the issue has been set by the end of this week, De Puyfontaine was going to Rome as early as Tuesday to discuss the situation with Cattaneo.
Copyright RTT News/dpa-AFX