Poste launches its takeover bid for TIM: €13.2 billion deal aims to create a new digital powerhouse

Poste Italiane has officially launched its public takeover and share exchange offer (OPAS) for TIM, a transaction worth approximately €13.2 billion that could reshape Italy's telecommunications sector. TIM shareholders will be able to tender their shares until 5:30 p.m. on September 11, 2026, while settlement is scheduled for September 18.

The transaction follows approval from Italy's market regulator Consob on July 15, as well as a favorable opinion from TIM's board of directors, which deemed the offer financially fair.

One of the key objectives of the offer is the potential delisting of TIM from the Milan Stock Exchange. Poste Italiane intends to take the company private to accelerate the integration process and fully capture the expected industrial synergies. The minimum acceptance threshold has been set at 66.67% of TIM's share capital, although Poste reserves the right to waive this condition.

From an industrial perspective, the merger aims to create an integrated platform combining telecommunications, digital services, payments, insurance and logistics by leveraging the complementary strengths of the two groups.

According to the company's estimates, the combined entity could generate at least €700 million in annual pre-tax synergies once fully integrated. Around €500 million is expected to come from cost savings, while more than €200 million should be driven by additional revenues. One-off integration costs are estimated at approximately €700 million.

A key strategic element of the project is the development of a nationwide network of edge data centers. By combining Poste's extensive territorial presence with TIM's technological infrastructure, the new group aims to expand cloud, connectivity and digital services while reducing reliance on large centralized data hubs.

The transaction is not expected to have direct negative effects on employment. According to the offer document, no significant changes are planned to the employment contracts of TIM employees or those of its subsidiaries, nor are workforce reductions envisaged.

Once the integration is completed, the combined group is expected to generate pro forma revenues of around €26.9 billion and pro forma EBIT of approximately €4.8 billion, strengthening Poste Italiane's ambition to become Italy's leading integrated platform for digital, financial and connectivity services.