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Europe

New Italian Cheeses

3:45 PM -- Changes at the top of Telecom Italia (TIM) 's management tree are imminent, and the Italian media speculation of a few weeks back looks to have been well informed. (See TI Revamp Expected and Telefónica Gets Green Light for TI Stake.)

Mediobanca, one of Telecom Italia's new controlling shareholders along with Telefónica SA (NYSE: TEF), has made a proposal -- namely, that "Mr Gabriele Galateri di Genola and Mr Franco Bernabè [be appointed] to the posts of Chairman and Managing Director of Telecom Italia respectively."

Expect the official announcement any day now.

— Ray Le Maistre, International News Editor, Light Reading

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