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[BUSINESS] · Italy · 18 sources

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Poste Italiane reaches 66.6% ownership of TIM after first tender offer phase FAST-MOVING

Poste Italiane has completed the first phase of its tender offer for TIM, reaching a 66.63% ownership stake. This milestone was achieved following a significant acceleration in participation during the final days of the window, which closed on September 11, 2026. Approximately 994 million shares were delivered, representing 46.5% of TIM's capital.

Poste Italiane CEO Matteo Del Fante expressed satisfaction with the results, noting that the market's response indicates strong confidence in the strategic project to integrate the two companies. The increased stake provides Poste Italiane with significant control, particularly regarding extraordinary shareholder resolutions. The tender offer includes a combination of 1.97 euros in cash and 0.218 Poste Italiane shares per title. The total estimated cost for the operation is approximately 3.3 billion euros, to be financed through bank debt.

Giuseppe Lasco, General Manager of Poste Italiane, described the operation as a historic event for Italy that will drive digital transition and create a group capable of competing with major international players. A second window for participation in the offer is scheduled to take place from September 21 to 25, 2026.

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Giuseppe Lasco · Matteo Del Fante · Pietro Labriola · Poste Italiane · TIM

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