Poste Italiane acquires 66.6% controlling stake in Telecom Italia

Poste Italiane Telecom Italia TIM takeover bid delisting

Poste Italiane has secured a controlling interest in Telecom Italia (TIM) following the conclusion of a voluntary public tender offer. Provisional results indicate that Poste will hold approximately 66.627% of TIM's share capital, combining its existing 20.104% stake with 993,608,722 newly tendered shares.

The surge in participation occurred after Poste modified its offer on September 7, increasing the cash component by 30 cents per share to a total of 1.97 euros, alongside 0.218 new Poste Italiane shares per TIM share. This adjustment, which also involved waiving minimum threshold conditions, increased the transaction's market value to approximately 13.15 billion euros.

With this majority stake, Poste Italiane now possesses sufficient control to potentially influence extraordinary shareholder meetings, including decisions regarding the possible delisting of TIM from the Milan Stock Exchange. TIM CEO Pietro Labriola noted that the move makes industrial sense. Payments to participating shareholders are expected to be processed on September 18.

Entities

Piazza Affari · Pietro Labriola · Poste Italiane · Reuters · TIM · Telecom Italia

Claims

What the coverage asserts, and how many sources carry each claim.

[● 3 SOURCES] The exchange offer consists of 0.218 new Poste Italiane shares and 1.97 euros in cash per TIM share. primabergamo.it · www.lamiafinanza.it · www.editorialedomani.it
[● 2 SOURCES] Payments for shareholders who adhered to the offer are scheduled for Friday, September 18. primabergamo.it · www.calcioefinanza.it
[● 3 SOURCES] Poste increased the cash component of the offer by 30 cents per share to encourage participation. primabergamo.it · www.lamiafinanza.it · www.calcioefinanza.it
[○ 1 SOURCE] The revised offer increased the transaction value by approximately 550 million euros to around 13.15 billion euros. www.lamiafinanza.it
[● 13 SOURCES] Poste Italiane is projected to hold 66.627% of Telecom Italia's share capital. primabergamo.it · primacremona.it · primailcanavese.it · primatreviso.it · primavenezia.it · +8 more
[○ 1 SOURCE] TIM CEO Pietro Labriola stated that the deal makes industrial sense. www.editorialedomani.it
[● 2 SOURCES] A total of 993,608,722 TIM shares, representing 46.523% of the total share capital, were tendered. primabergamo.it · www.lamiafinanza.it
[○ 1 SOURCE] The declared ultimate goal of the operation is the delisting of TIM from the stock exchange. www.editorialedomani.it