Poste Italiane

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