Telco accelerates talks to chose Telecom Italia's mgt - report

MILAN (Thomson Financial) - The shareholders of Telco, which has a controlling 23.6 pct stake in Telecom Italia SpA, have accelerated talks regarding the appointment of the operator's management, the daily Il Sole 24 Ore said.

The chairmen of Intesa Sanpaolo SpA and Mediobanca SpA's supervisory boards, respectively Giovanni Bazoli and Cesare Geronzi, could meet today to draft a list of possible candidates for top jobs at Telecom Italia, it said.

Telecom Italia is holding a board meeting tomorrow to examine third-quarter results.

Management changes could be announced tomorrow or an extraordinary board meeting could be called at later date, it said.

Telco's shareholders -- Telefonica SA, Assicurazioni Generali SpA, Intesa Sanpaolo, Mediobanca and the Benetton family's Sintonia -- are believed to have agreed to replace Telecom Italia's Pasquale Pistorio with Mediobanca's former chairman Gabriele Galateri di Genola.

Franco Bernabe, former CEO of Eni SpA and Telecom Italia, is also a favourite to replace Riccardo Ruggiero as CEO, it said.

The daily added however that there is speculation Pistorio could be confirmed as chairman.

Other CEO candidates could be NH Hoteles CEO Gabriele Burgio, former Wind CEO Paolo Dal Pino and Fastweb SpA Stefano Parisi, according to the newspaper. pw/ajb COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved.

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