Poste Italiane

Poste Italiane improved its public cash-and-share offer for Telecom Italia: the cash component rises from €1.67 to €1.97 per share, the exchange component remains at 0.218 Poste shares, total consideration about €11.3bn. The minimum acceptance threshold of 66.67% was also removed and the acceptance period extended to 25 September. CEO Pietro Labriola and other managers submitted their own TIM shares to the offer, boosting investor confidence; Moody’s placed TIM’s Ba1 rating under review for a possible upgrade. As a result, TIM’s share price rose intraday by around 2.2% to €7.635 after arbitrage-driven buying. » More on de.investing.com

State-controlled Poste Italiane has made a takeover offer for Telecom Italia (TIM) worth about 10.8 billion euros — 2.8 billion euros in cash and the remainder in its own shares — with the goal of taking TIM off the stock market. CEO Matteo Del Fante cites national sovereignty as the reason and plans to integrate connectivity, financial and insurance services and logistics, with offerings in cloud, cyber security and AI. Poste Italiane expects annual synergies of around 700 million euros and intends to keep TIM as an independent brand within the group. After the announcement, Poste shares briefly fell sharply while TIM’s stock rose; analysts characterized the premium as moderate. » More on faz.net

Poste Italiane has tabled a €10.8 billion cash-and-stock takeover bid for Telecom Italia, valuing Telecom Italia at €0.635 per share, a premium of nine percent. Telecom Italia shares rose about five percent while Poste Italiane’s shares fell. With the acquisition, Poste Italiane aims to take Telecom Italia off the stock market and secure mobile and fixed networks, cloud and data-center infrastructure, and the ability to handle secure data processing for the state. Poste Italiane expects pre-tax synergies of €700 million per year; the deal is expected to close by the end of 2026. » More on wiwo.de

The state-controlled group Poste Italiane wants to acquire a majority stake in Telecom Italia and thereby bring the telecom group back into indirect proximity to the state. Poste Italiane already holds around 27 percent and is now offering €0.167 plus 0.0218 of its own shares per TIM share. The total value of the offer is estimated at just under €11 billion. » More on finanzen.net

The state-controlled company Poste Italiane wants to take control of Telecom Italia and thereby once again bring the telecom group indirectly into state hands. Poste Italiane already holds 27 percent after buying a stake from Vivendi about a year ago. The takeover offer comprises €0.167 in cash and 0.0218 of its own shares per TIM share and has a total value of around €11 billion. » More on de.investing.com