Telecom Italia’s 42,500 employees could be set to strike as the country’s main telecoms union expressed concerns over the future of the company following another boardroom crisis instigated by a KKR takeover bid, Reuters reported.
In a document viewed by Reuters, the Communications Workers Union threatened to call a strike for the operator’s entire workforce in Italy, beginning within ten days, warning it will not accept any overhaul which puts jobs at risks.
The union wants to be involved in any decision which would potentially cause a reorganisation of the group.
Telecom Italia was subject to a €10.7 billion takeover bid by US investment company KKR early last week, which was then followed by CEO Luigi Gubitosi stepping down from his role following clashes with the operator’s current largest investor Vivendi.
Following Gubitosi’s resignation, the company handed operational control to current TIM Brasil CEO Pietro Labriola, while chairman Salvatore Rossi was given oversight of its strategic assets.
Reuters reported Telecom Italia had also set up a special committee to study the KKR bid.
While Vivendi has indicated it would not be interested in selling its 24 per cent stake, support from Telecom Italia’s board of directors and the Italian government would theoretically be enough to push a deal through.
The government also reportedly indicated its decision will depend on KKR’s plans for Telecom Italia’s fixed network, which is the country’s main infrastructure.Subscribe to our daily newsletter Back