In a significant move within Italy's telecommunications sector, Poste Italiane has formalized the acquisition of a 15% stake in Telecom Italia (Tim) from the French media group Vivendi, valued at 684 million euros. This transaction, which translates to a price of 0.2975 euros per share, positions Poste Italiane as the largest shareholder in Tim, with a total holding of 24.81% of ordinary shares and 17.81% of the company's total share capital.
The deal, announced on March 29, 2025, follows Poste's earlier acquisition of 9.81% of Tim’s shares from Cassa Depositi e Prestiti on February 15, 2025. With this latest purchase, Poste aims to solidify its role as a long-term industrial shareholder, fostering synergies between its operations and those of Tim. The completion of this acquisition is expected within the first semester of 2025, contingent upon notification to the Italian Antitrust Authority, as required by regulations governing mergers and acquisitions.
Poste Italiane’s CEO, Matteo Del Fante, emphasized the strategic nature of this investment, stating that it is designed to enhance the collaboration between Poste and Tim, thereby promoting the consolidation of the telecommunications market in Italy. “This operation represents a strategic investment aimed at playing a long-term industrial shareholder role that can foster the creation of synergies between Poste Italiane and Tim,” the company noted in its announcement.
Vivendi, which has been gradually reducing its stake in Tim, will retain a minority interest of 2.51% after this sale. The French group had previously expressed its intention to divest its shareholding in Tim under favorable financial conditions. Just weeks prior to this transaction, Vivendi's stake had already dropped from 23.75% to 18.3%.
Poste's acquisition marks a notable return of Italian control over Tim, which has seen various foreign interests over the years, including partnerships with Telefonica and Vivendi. This shift aligns with broader governmental objectives to reinforce national champions in critical sectors such as telecommunications.
Additionally, Poste is in advanced negotiations to utilize Tim's mobile network infrastructure for its subsidiary, Postepay, starting January 1, 2026. This transition is expected to enhance service delivery for Postepay's five million customers, as the company plans to migrate its operations from Vodafone's network to Tim's.
The collaboration is not limited to mobile services; Poste and Tim are exploring partnerships across various sectors, including ICT services, media content, financial services, insurance, payments, and energy. These potential synergies are seen as vital for maximizing operational efficiencies and enhancing customer offerings in an increasingly competitive market.
Poste's strategic move to increase its stake in Tim comes at a time when the telecommunications industry is undergoing significant transformations, driven by technological advancements and changing consumer preferences. By consolidating its position, Poste aims to leverage its resources to create a more robust telecommunications framework in Italy.
As the largest shareholder, Poste will have a significant influence over Tim's strategic direction, governance, and operational decisions. This new structure is expected to pave the way for innovative solutions and improved service delivery in the telecommunications sector, ultimately benefiting consumers and stakeholders alike.
In conclusion, Poste Italiane's acquisition of a substantial stake in Tim not only underscores its commitment to the telecommunications sector but also reflects a broader trend of consolidating national interests in key industries. As the transaction progresses towards completion, all eyes will be on how this partnership evolves and what it means for the future of telecommunications in Italy.
