Telecom Argentina CEO to take up Telecom Italia role
Telecom Argentina’s CEO Stefano De Angelis has resigned from his position and will take up a new managerial role at Telecom Italia.
Telecom Italia sold off its stake in Telecom Argentina for $960 million after striking a deal with Fintech Investment – owned by Mexican billionaire David Martinez – but the deal is still awaiting final approval from Argentine regulators.
Angelis’s appointment at Telecom Italia has reportedly been in place for some time, but the companies were waiting to announce it while the deal with Fintech was still being finalised.
Marco Patuano, CEO at Telecom Italia, is implementing a plan to cut debt and fund investments to upgrade the company’s assets, and the sale of Telecom Argentina is part of €4 billion restructuring exercise.