Telecom Italia boss to resign

Telecom Italia chief executive Franco Bernabe could resign on Thursday at the company’s next board meeting, following Telefonica’s move to become Telecom Italia’s largest shareholder last week. The Wall Street Journal reported that Bernabe’s resignation is intended to ease tension within the company’s board that has clashed over the company’s strategic direction. At the end of June Telecom Italia reported it had €29bn (£24.2bn) of debt.