Poste Italiane increases TIM tender offer price and waives minimum threshold

Poste Italiane has increased its tender offer for TIM, raising the cash component by 0.30 euro per share. The revised offer provides 1.97 euro in cash plus 0.218 new Poste Italiane shares for each TIM share tendered. The total value of the transaction is estimated at approximately 11.3 billion euro, including 3.3 billion euro in cash.

In a strategic move to ensure the deal's completion, Poste Italiane has waived the minimum threshold condition, meaning it will proceed with the acquisition even if it does not reach the previously required 66.67% of voting rights. The company aims to eventually acquire 100% of TIM to facilitate its delisting from the stock exchange.

The tender offer period is scheduled to reopen from September 21 to September 25, 2026. To finance the increased cash component, Poste Italiane may utilize additional bank financing of 512 million euro, arranged with BNP Paribas and Mediobanca.