Telecom Italia may seek Bernabe as its next CEO

Article Abstract:

Telecom Italia SpA is eyeing ENI SpA CEO Franco Bernabe as its next CEO to replace Gian Mario Rossignolo who was terminated on Oct. 23, 1998 for a series of management blunders. Oil firm ENI SpA, which is the largest firm in Italy, is being led by Bernabe through stock market capitalization. Telecom Italia, which is the second biggest firm in Italy, has been without a CEO since February 1998. It is uncertain whether Bernabe would accept the offer but those close to him said he could be encouraged by the challenge to run Telecom Italia. The firm, which was nearly privatized a year ago, had missteps in no less than three international alliances and must confront deregulation.

Comment:

Is eyeing ENI SpA CEO Franco Bernabe as its next CEO to replace Gian Mario Rossignolo who was terminated on 10/23/98

Communications, Broadcasting and Telecommunications, Executive changes & profiles, Telecommunications industry, Telecom Italia S.p.A.

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Italian network of mobile phones wins a license

Article Abstract:

ENEL SpA's WIND consortium has been awarded the license that will enable it to operate the third mobile-phone network in Italy. The ENEL-led consortium's bid for the license won over two bids by other consortiums led by British Telecommunications PLC and Mediaset SpA. The license will allow ENEL to secure a strong position in the fast-growing and profitable Italian mobile-phone market. ENEL, which has a 51% stake in the consortium, will utilize its nationwide network of electric power lines and internal telecommunications network to introduce a complete line of mobile-phone services.

Comment:

Its WIND consortium is awarded the license that will enable it to operate the third mobile-phone network in Italy

Cellular and Other Wireless Telecommunications, New orders received, Mobile Radio Services, Wireless communications services, ENEL SpA

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BNL is marketed as having started needed revamp

Article Abstract:

Banca Nazionale del Lavoro SpA (BNL) of Italy is preparing for the sale of the government's 82% stake in the bank with a restructuring. The bank's CEO, Davide Croff, is overseeing a housecleaning that has resulted in a 4.4-trillion-lire ($2.66 billion) expense to put its loan book in shape and a reduction of 2,000 in its employee complement in the past three years that will be increase by another 3,300 in the following three years. Croff's idea is to sell the bank to investors as a bank that has already undergone a much-needed revamp and is now ready for growth.

Comment:

Is preparing for the sale of the government's 82% stake in the bank with a restructuring

Organizational history, All Other Nondepository Credit Intermediation, Finance Leasing, Lease financing, Banca Nazionale del Lavoro

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