The CEO of Swiss mobile operator Swisscom, Carstern Schloter, will continue as CEO of Italian broadband subsidiary Fastweb to ensure stability during investigations into an alleged E2bn laundering scam.
A spokesman for Swisscom admitted the company had…
The CEO of Swiss mobile operator Swisscom, Carstern Schloter, will continue as CEO of Italian broadband subsidiary Fastweb to ensure stability during investigations into an alleged E2bn laundering scam.
A spokesman for Swisscom admitted the company had previously expected to re-establish its former management by the end of September. However, he insisted it would be speculative at this point to suggest there were delays in the investigation.
To avoid Fastweb being run by a third party appointed by the Italian government, Schloter became temporary CEO of Fastweb in April, replacing Stefano Parisi, who is being investigated along with other executives at his company.
Executives from Telecom Italia’s Sparkle are also under the same investigation, which is determining whether they knowingly enabled a money laundering ring to carry out fabricated transactions between 2003 and 2006.
The Swisscom spokesman declined to comment on the procedure, and described the widely November 2 trial start date as not involving Fastweb management.
