Poste Italiane launches €13.2 billion public offer to acquire TIM

On 20 July 2026, Poste Italiane opened a mixed cash‑and‑share public offer (OPAS) to acquire the former monopoly telecom operator TIM. Shareholders receive €1.67 in cash plus 0.218 newly issued Poste shares for each TIM share, valuing the transaction at roughly €13.2 billion.

The deal is supported by several leading law firms, including Gianni & Origoni, BonelliErede, and Cleary Gottlieb, which will handle corporate, regulatory and financial aspects. The combined group plans to integrate 12,659 postal offices, 4,000 TIM retail points and 49,000 partner outlets, create a unified AI‑driven data platform, and offer a broad suite of financial and utility services. Analysts project annual synergies of about €700 million within three years and expect dividend yields of €1.30 per share in 2026 rising to €1.40 in 2027, with no planned job cuts.