- Poste Italiane acquires an additional 15% stake in Telecom Italia from Vivendi, becoming the largest shareholder with a 24.8% holding.
- The acquisition strengthens domestic influence over TIM, supporting potential synergies and sector consolidation in Italy’s telecommunications industry.
What happened: Poste Italiane to become top shareholder in Telecom Italia with new stake buy
Poste Italiane has agreed to acquire a 15% stake in Telecom Italia (TIM) from Vivendi for €684 million, increasing its total holding to 24.8% and making it TIM’s largest shareholder. The purchase price of €0.2975 per share represents a 4.8% discount compared to TIM’s closing price on the preceding Friday. This acquisition follows Poste’s initial investment in February, where it obtained a 9.8% stake from state lender Cassa Depositi e Prestiti (CDP).
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Why it’s important
By increasing its stake, Poste Italiane, a state-controlled entity, ensures continued domestic influence over TIM, especially as the telecommunications sector anticipates consolidation. This move positions Poste as a long-term industrial shareholder, aiming to foster synergies between its diverse services—including energy, payments, and telecommunications—and TIM’s operations. For Vivendi, the sale aligns with its strategy to divest non-core assets and refocus its investments, reducing its holding in TIM to 3.4%.
