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2026-07-27 20:48 UTC → 2026-08-02 12:44 UTC ·
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Italian sovereign cloud consolidation moves forward Poste Italiane's TIM acquisition progresses
The public tender for Poste Italiane’s €13.4 billion Italiane opened a mixed cash‑and‑share public offer on 20 July 2026 to acquire Telecom Italia (TIM) opened on 20 July 2026. On (TIM). Shareholders receive €1.67 in cash plus 0.218 newly issued Poste shares per TIM share, valuing the first subscription day investors tendered transaction at roughly €13.2‑13.4 billion. Leading law firms Gianni & Origoni, BonelliErede and Cleary Gottlieb are handling corporate, regulatory and financial aspects. The tender attracted 832,748 TIM shares (≈0.05 % of the offer) and on the offer first day and remains open until 11 September, with payment expected on 18 September and settlement by early October. A Milan court has cleared a procedural hurdle raised by tower operator INWIT, keeping the deal on track to meet the 66.7 % acceptance threshold required for delisting. Poste Italiane reported its strongest half‑year results to date for the first half of 2026: H1 2026, with revenue €6.8 billion (+6 %), adjusted EBIT €1.8 billion (+7 %) and net profit €1.2 billion (+4 %). Net investment collection in postal savings reached €2.7 billion and assets under management rose 13 % since December to €613 billion. CEO Matteo Del Fante highlighted three parallel initiatives – a reorganisation of the Postal Savings arm with Cassa Depositi e Prestiti (2027‑2030), the creation of a single Financial Hub merging payments and financial services, and a partial spin‑off of PostePay effective 1 January 2027. The integration plan foresees combining 12,659 postal offices, 4,000 TIM retail points and 49,000 partner outlets, building an AI‑driven data platform and offering a broad suite of financial and utility services. Analysts expect annual synergies of about €700 million within three years, with no planned job cuts. Dividend years and project dividend yields are projected at of €1.30 per share in 2026 rising to €1.40 in 2027. The 2027, with no planned job cuts. Following the acquisition, Gruppo TIM board deemed Poste’s offer financially sound on 18 July, and all required authorisations – from will become privately held, with Poste Italiane as the Bank controlling shareholder. TIM Brasil, which contributed 46.8 % of Italy, Consob, Italian antitrust, the European Commission, Brazil’s regulator group’s EBITDA in 2025, will remain under the new ownership and is described by its president as a strategic "jewel" for the group, aligning with Italy’s “golden power” review – remain goal of a national champion in place. digital infrastructure and data sovereignty.