Poste Italiane is set to become the largest shareholder of telecommunications firm Telecom Italia (TIM) later this year when the post finalises its acquisition of an additional 15% of shares in the company from French investment company Vivendi.
The latest investment follows Poste Italiane’s purchase of 9.81% of the ordinary shares from Cassa Depositi e Prestiti in February this year, taking its total stake to 24.81% of the ordinary shares and 17.81% of the entire share capital of TIM.
The latest acquisition from Vivendi is expected to be completed by the first half of 2025, subject to approval from the Italian Competition Authority, Poste Italiane confirmed.
The Vivendi shares amount to €684 million (at a price of € 0.2975 per share) and will be financed through available cash.
Strategic investment
