State-controlled postal and financial services giant Poste Italiane announced on Sunday a €10.8 billion cash and share bid to take over Italian telecommunications group TIM.
Already the largest shareholder in TIM with a 27% stake, Poste Italiane increased its holdings last year by acquiring 17% from French media company Vivendi in two separate transactions.
The move aims to create a diversified group that integrates telecommunications, banking, insurance, energy, logistics, and digital services. Analysts see it as part of Poste Italiane’s strategy to expand beyond traditional postal operations into broader financial and technology sectors.
On Monday, TIM’s shares jumped 4.69% in early trading on the Milan stock exchange, while Poste Italiane’s stock declined 4.9%.
