Poste Italiane takes another step towards TIM and goes all-in

Poste Italiane has taken another step towards Tim and is going all-in. Following the conclusion of the public takeover bid, which saw the group led by CEO Matteo Del Fante and General Manager Giuseppe Lasco acquire approximately 86 per cent of the telecoms company, Poste will, as of today, formally exercise management and coordination over the telco. The board of directors, as reported by TgPoste, has approved the regulations governing relations and the flow of information between the two groups, whilst TIM’s board has taken note of the new structure and approved a corresponding set of regulations.

In practical terms, Poste will have full visibility over TIM’s main activities and initiatives and will be involved at an early stage in the assessment of operations of major strategic importance. The stated aim is to coordinate industrial policies, integrate expertise, infrastructure and technologies, and develop synergies, whilst maintaining the legal autonomy of TIM and its subsidiaries, not least to protect minority shareholders. For the time being, the composition of TIM’s board of directors remains unchanged, and Pietro Labriola is expected to remain at the helm of the company during the initial phase of the integration. On the stock market, TIM’s share price fell by 2.6 per cent. Poste’s share price rose by 1.04 per cent.