Telecom Italia S.p.A. (BIT:TIT) (TIM) will press ahead with plans to attract new investors and get greater value from its assets, its Chief Executive Officer said on October 28, 2021, after the group further cut its 2021 core profit guidance on the back of worsening conditions in its domestic market. The fresh downward revision, announced late on October 28, 2021, follows a cut in July 2021 and heaps investor pressure on Luigi Gubitosi, Chief Executive Officer of Italy's biggest telecoms group, who won a second term in February 2021. A source close to TIM's top investor Vivendi SE (ENXTPA:VIV) said late on October 27, 2021 that the French media company remained committed to TIM despite the group's disappointing results. However, a person with knowledge of the matter said Vivendi had written to TIM Chairman Salvatore Rossi on October 28, 2021 asking that an extraordinary board meeting is convened to discuss the reorganisation. TIM said its board had discussed on October 27, 2021 a possible reorganisation of the group's business to get greater value from the group's assets and had asked Gubitosi to continue to study options. "What I got yesterday was an encouragement to continue the exploration and then to report back the opportunities that we have," Gubitosi told analysts in a conference call on October 28, 2021. A sale of a minority stake in its cloud unit Noovle could be carried out in the second half of next year, Gubitosi said, adding that an upcoming business plan would be "more stringent" on costs. Other parts of TIM's business could be carved out to allow the entrance of new partners, following similar deals the group secured for its mobile and fixed-network assets. "We are very committed on extracting value from our portfolio", Gubitosi said.