Poste Italiane beat its financial targets last year, including double-digit parcels growth in the peak final quarter, and is aiming for further profitable growth this year, boosted by a new stake in Telecom Italia and more international parcels.
The diversified Italian postal group has just acquired a 9.81% stake in the country’s privatised telecoms company for a reported €420 million from CDP, a state-owned financial investment company that owns a 35% minority stake in Poste Italiane.
The strategic investment, which is partly being financed by the parallel sale to CDP of Poste’s 3.78% stake in payment technology company Nexi, is aimed at generating commercial synergies between the postal and telecoms groups, including between PostePay and Telecom Italia’s mobile network.
Financial and strategic progress
