MILAN/ROME (Reuters) – Telecom Italia’s network can cope with the surge in traffic driven by the coronavirus crisis in the country, CEO Luigi Gubitosi was quoted as saying on Wednesday, as U.S. activist fund Elliott cut its stake in the phone group.
FILE PHOTO: Telecom Italia new logo is seen at the headquarter in Rozzano neighbourhood of Milan, Italy, May 25, 2016. REUTERS/Stefano Rellandini/File Photo
The strategic role of TIM’s network – as well as its needs for an upgrade – has taken center stage in the healthcare emergency, which has confined Italians to their homes, forcing millions to embrace smart-working and online-teaching.
“TIM’s network is well-built. It is very solid and stable and can hold, with no problems, additional traffic,” Gubitosi told the newspaper Corriere della Sera.
His comments follow a decision by Elliott to reduce its stake in the former phone incumbent to 6.97% from 9.72%. A person familiar with the matter, who asked not to be named, cited…
Source Reuters Tech News
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