Poste Italiane Secures Majority Stake in TIM

Poste Italiane has attained an additional 65.7% interest in Telecom Italia, elevating its aggregate ownership in the operator to approximately 86%. The postal entity confirmed the outcomes of the second and concluding phase of its public tender offer, augmenting the 20% stake it acquired last year when it superseded Vivendi as the operator’s primary shareholder.

In March, the organization delineated a strategy to privatize Telecom Italia as part of a broader objective to restructure the operator into an infrastructure and services conglomerate. However, the acquisition fell short of the 90% threshold necessary for privatization, necessitating alternative strategies to achieve its original objectives. The tender offer, initiated in July at €1.67 per share, valued the total transaction at approximately €13 billion.

Beyond postal operations, the company maintains interests in the financial and insurance sectors. Upon initiating its acquisition bid, Poste Italiane asserted that the integration of its assets with those of Telecom Italia produces a diversified and resilient business mix with substantial financial stability and distributable reserves. The company further emphasized that the merger represents an optimal integration, providing a comprehensive offering supported by an extensive distribution network.