MILAN (Reuters), – Telecom Italia (MI.) (TIM), will host an extraordinary meeting of the board on Nov. 26, sources close to the matter reported on Saturday. The unusual board meeting comes amid internal disputes over Luigi Gubitosi, the Chief Executive.

Gubitosi has faced criticism after suffering a boardroom battle earlier in the month. He was subject to two profit warnings at Italy’s old phone monopoly.

TIM, which has an average gross debt of 29.3 billion Euros ($33 billion) is struggling to compete on home soil at a time it must invest large to help support Italy’s efforts to increase broadband connectivity.

Gubitosi had proposed projects to extract cash from the assets of the company by spinning them off and bringing new investors, but Vivendi turned them down.

The French media giant sees Gubitosi as only a short-term solution https://reut.rs/3kT1eNT given TIM’s problems and wants a bigger say over the fate of its network assets, sources have said.

On Friday, S&P downgraded TIM’s long-term rating to BB from BB+ due to the declines in revenue and profit, as they are in turn driving the rating agency’s measure of the phone company’s debt burden higher.

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