Press in Italy are reporting that Tiscali CEO Tommaso Pompei is expected to resign at tomorrow's board meeting after having agreed severance pay of 2 million euros.
Mario Rosso, CEO of news agency ANSA and a Tiscali board director, is expected to replace him.
The reports say that Rosso will be mandated to hire an advisor to study all options to enhance the value of the telecommunications company.
Among possible bidders for Tiscali are Vodafone Group PLC, Wind and the Swisscom group, according to the newspaper.