BT's Global Services head Alvarez to oversee Europe: source

[January 25, 2017]  LONDON (Reuters) - Luis Alvarez, the well-regarded head of BT's  multi-national corporate division, will take also responsibility for its European business following an accounting scandal in Italy, a person familiar with the situation said.

The British telecom firm warned on profits on Tuesday, in part due to the discovery of a 530-million-pound ($667 million) black hole at its Italian operations.

The person familiar with the situation said BT's current head of Europe Corrado Sciolla was expected to leave the firm, but that no changes had yet been finalised.

Alvarez was appointed CEO of BT Global Services in 2012 and has helped transform the unit after it reported profit warnings in 2008 and 2009.

(Reporting by Kate Holton, Editing by Paul Sandle)

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