Poste Italiane evaluates potential stake in Telecom Italia
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Poste Italiane is considering a potential investment in Telecom Italia (Tim), according to sources familiar with the matter. The move comes as Iliad and CVC capital partners also express interest in Italy’s former Telecom monopoly, with all three entities having reportedly informed the italian government of their intentions.
Strategic rationale
Poste, which operates in the mobile sector through Poste Mobile, is assessing whether a commercial partnership with Tim could be strengthened via an equity stake. A possible avenue for investment could be the 9.8% stake held by Cassa Depositi e Prestiti (CDP), the state-backed investor that is currently Tim’s second-largest shareholder after Vivendi. No formal decision has been made yet, and TIM is not listed on the agenda of Poste’s upcoming board meeting, one source indicated.
Tim's changing landscape
Tim, which gained 6.3% on Friday following heightened takeover interest, saw its shares retract 0.9% early Monday. The company is set to unveil a strategic update on Thursday, a pivotal moment following CEO Pietro Labriola’s successful push to sell Tim’s landline grid to KKR in a multi-billion-euro deal aimed at reducing debt.
Stakeholder positioning
French media group Vivendi, Tim’s largest shareholder with a 24% stake, remains open to divestment, further reshaping the company’s ownership structure. Should Poste proceed with an investment, it would maintain Tim under a state-backed umbrella, similar to cdp, but with the added advantage of integrating commercial synergies. As Telecom Italia prepares to lay out its next strategic steps, Poste’s potential entry adds another layer of complexity to an already evolving telecom sector in Italy.
Strategic rationale
Poste, which operates in the mobile sector through Poste Mobile, is assessing whether a commercial partnership with Tim could be strengthened via an equity stake. A possible avenue for investment could be the 9.8% stake held by Cassa Depositi e Prestiti (CDP), the state-backed investor that is currently Tim’s second-largest shareholder after Vivendi. No formal decision has been made yet, and TIM is not listed on the agenda of Poste’s upcoming board meeting, one source indicated.
Tim's changing landscape
Tim, which gained 6.3% on Friday following heightened takeover interest, saw its shares retract 0.9% early Monday. The company is set to unveil a strategic update on Thursday, a pivotal moment following CEO Pietro Labriola’s successful push to sell Tim’s landline grid to KKR in a multi-billion-euro deal aimed at reducing debt.
Stakeholder positioning
French media group Vivendi, Tim’s largest shareholder with a 24% stake, remains open to divestment, further reshaping the company’s ownership structure. Should Poste proceed with an investment, it would maintain Tim under a state-backed umbrella, similar to cdp, but with the added advantage of integrating commercial synergies. As Telecom Italia prepares to lay out its next strategic steps, Poste’s potential entry adds another layer of complexity to an already evolving telecom sector in Italy.