Telecom Italia creates new unit to manage network

Telecom Italia has reorganized its network operations in order to boost efficiency, cut costs and develop new products, in a move long awaited by the market, an Associated Press report said.

The Associated Press report quoted the Milan-based Telecom Italia, Italy's largest telecommunication company, as saying that the new unit will be named 'Open Access' and will be independent from the unit that manages the commercial operations of the company.

In a statement sent to the Italian stock exchange, Telecom Italia said it has named Stefano Pileri as head of the new unit.

Telecom Italia's new managers, appointed last December, are expected to outline the company's long-anticipated international strategy and dividend policy after a March 6 board meeting, the Associated Press report said.

But uncertainty over the group's future moves has been weighing on the stock, the report further said.