MILAN, July 18 (Reuters) - Piergiorgio Peluso, Chief

Financial Officer of motorway operator Autostrade per l'Italia,

is set to take over the top finance job at Telecom Italia (TIM)

, two sources told Reuters on Friday.

Peluso, 57, previously served as TIM's CFO for seven years

until 2019. He will rejoin the former phone monopoly next month,

the people said.

Spokespeople for TIM and Autostrade per l'Italia declined to

comment.

TIM had been searching in recent months for a successor to

current CFO Adrian Calaza, as he is expected to leave the

company later this year, sources previously told Reuters.

Calaza, an Argentine national and former CFO of TIM's

Brazilian unit, took on the job of group finance

chief in 2022.

He oversaw last year's landmark sale of TIM's fixed-line

network to a consortium led by U.S. investment firm KKR,

a deal aimed at slashing the company's debt by 14 billion euros

($16.32 billion).

Peluso's return to TIM is expected to be announced on August

5, when TIM's board meets to approve first-half results. He will

assume the CFO role at a later date, one of the sources added.

In May, TIM returned to state-backed hands, with financial

conglomerate Poste Italiane replacing France's Vivendi

as the company's largest shareholder, with a 24.8% stake.

($1 = 0.8580 euros)