Poste Italiane becomes indirect controller of TIM Brasil

Poste Italiane, the Italian state-owned postal service, has become the indirect controller of TIM Brasil. This change follows the completion of a public tender offer for Telecom Italia, in which Poste Italiane increased its stake to approximately 66.63% of the company's share capital.

The acquisition was executed through a voluntary offer for control and a share swap. Under the terms of the improved proposal, participants received 0.218 Poste shares for every Telecom Italia share delivered, plus 1.97 euros per share. This strategic move is part of the Italian government's initiative to establish a national champion in digital services and infrastructure.

Following the initial period of the tender offer, the liquidation of acquired shares took place on September 18. Poste Italiane has announced it will reopen the subscription window between September 21 and September 25. The state-owned entity aims to reach a 90% ownership threshold, which would allow for the potential delisting of Telecom Italia from the Milan Stock Exchange.