Poste Italiane's €13 billion bid to acquire Telecom Italia

Poste Italiane has launched a voluntary public tender offer (Opas) for Telecom Italia (TIM) valued at more than €13 billion (around R$80 billion). The offer proposes €1.67 in cash plus 0.218 newly issued Poste shares for each TIM share, covering up to 1.706 billion TIM shares (about 80% of the capital, after accounting for Poste’s existing stake). The offer period runs from 20 July to 11 September 2026, with the payment scheduled for 18 September. On the first day, 832,748 applications were received, representing 0.0488 % of the shares involved. A Milan court has removed a legal obstacle raised by tower operator INWIT, clarifying the timeline for the transaction, which is now expected to be completed by the end of September 2026. TIM Brazil continues its own acquisitions in broadband and corporate services, while the dispute over control of the Italian group proceeds. CEO Matteo Del Fante has said the TIM brand will be preserved. If the acceptance rate falls below the 66.67 % threshold, Poste’s board will decide whether to continue the bid.