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Europe

TI Revamp Expected

11:00 AM -- With Telefónica SA (NYSE: TEF) now pulling the strings at Telecom Italia (TIM) , major changes are expected at the Italian giant, starting with the replacement of Pasquale Pistorio, the current chairman, and Riccardo Ruggiero, the incumbent CEO. (See Telefónica Gets Green Light for TI Stake.)

Speculation is rife about internal battles amongst Telecom Italia's new shareholders, while former Telecom Italia managing director Franco Bernabe is tipped to be the new CEO.

Italian newspaper Il Sole 24 Ore believes an announcement is due this week.

— Ray Le Maistre, International Pasta Editor, Light Reading

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