Olivetti partly lifts veil on plans to turn around Telecom Italia

Article Abstract:

With the hostile takeover of Telecom Italia SpA by Olivetti complete, CEO Roberto Colaninno is turning his attention to overhauling the telecommunications monopoly previously held by the Italian government. In order to achieve an announced goal of $2.48 billion in cost savings, Colaninno is planning a major corporate restructuring, the introduction of performance-related incentives and the elimination of 13,000 jobs. Colaninno wants to offer customers a wider range of Internet services, including mobile Internet access through the company's Telecom Italia Mobile SpA unit, Europe's largest cellular phone service provider. Colaninno also will be focusing on the international communications market, specifically in Latin America, Central Europe and the Mediterranean.

Italy, Computer and Office Equipment, Office & Computing Machines, Office equipment, Officials and employees, Computer industry, Office equipment and supplies industry, Office equipment industry, Internet service providers, Internet service provider, Privatization, Privatization (Business), Telecom Italia S.p.A., Olivetti S.p.A., Government monopolies, Colaninno, Roberto

---

Telecommunications powerhouse

Article Abstract:

Investment bank Goldman Sachs Group has been the major player for European telecommunications deals, advising on $239 billion regarding mergers this year alone. Goldman has not only beaten out European banks for clients, but Morgan Stanley Dean Witter is number 2. Goldman began staking this formidable position over 10 years ago by taking private companies public, public companies private, and then merging them. Their latest client, VodaFone Airtouch is the icing on the cake. Scott Mead and Robert S. Harrison head the group that is responsible for redrawing Europe's telecommunications map.

Europe, Investment Banking and Securities Dealing, Investment Banking, Contracts & orders received, Security brokers and dealers, Investment banks, Contracts, Contract agreement, Growth, The Goldman Sachs Group Inc., Company growth, Mead, Scott, Harrison, Robert S.

---

Similar abstracts:

• Abstracts: Olivetti to consider bid for Telecom Italia. Frontier still weighing bid from Qwest
• Abstracts: Start-ups' hopes are riding on an Internet route through the sky. A prescription for success?
• Abstracts: Remodularization of a product line: adding complexity to project management. Introducing interface management in new product family development
• Abstracts: Practicality, paradigms, and problems in stakeholder theorizing
• Abstracts: Emotional capability, emotional intelligence, and radical change. CEO charismatic leadership: levels-of-management and and levels-of-analysis effects

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.