Poste Italiane has finalized an agreement to acquire a 15% stake in Telecom Italia (TIM) from Vivendi, strengthening its position as the main shareholder with a total holding of 24.8%. This move follows Vivendi’s gradual reduction of its TIM shares, recently bringing its stake down to 18.4%. The transaction, valued at €684 million, was funded through available cash, with TIM shares purchased at €0.2975 each, reflecting a 4.8% discount compared to the last closing price of €0.3126.
Poste Italiane confirmed that it would remain below the 25% threshold, which would otherwise trigger a mandatory takeover bid under Italian law. The company emphasized that it sees this as a long-term strategic investment, aimed at unlocking potential synergies between the two firms and supporting broader industry consolidation efforts.
As a state-controlled entity with diversified businesses spanning energy, payments, telecommunications, and logistics, Poste Italiane initially entered TIM’s shareholder structure in February by acquiring a 9.8% stake, replacing the role previously held by state lender Cassa Depositi e Prestiti (CDP). This latest acquisition further cements Poste’s influence in TIM, a company of strategic national significance.
TIM, Italy’s former telecom monopoly, recently spun off its fixed-line network, a move that could pave the way for broader sector consolidation. The Italian telecom market is characterized by narrow profit margins, which pose challenges in securing necessary investments for modernization and expansion. As consolidation becomes an increasing focus, Poste Italiane’s expanded role in TIM positions it to play a central part in any future developments within the sector.
The Italian government has shown a strong interest in maintaining national influence over TIM as the company navigates potential partnerships or mergers. The acquisition by Poste Italiane aligns with this objective, as it ensures that a domestic entity with both financial strength and industrial expertise holds a significant stake in the telecom group. The move has been endorsed by officials, with a senior Treasury representative stating that Poste possesses the right credentials to act as a key investor in TIM, bringing both financial stability and strategic vision to the company’s future.
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