Rome, 15 Feb 2025 18:30
The Board of Directors of Poste Italiane S.p.A. (“Poste Italiane”), a company controlled by the Italian Ministry of Economy and Finance (“MEF”) has resolved the acquisition of circa 9.81% of Telecom Italia S.p.A. (“Tim”) ordinary shares currently held by Cassa Depositi e Prestiti S.p.A. (“Cassa Depositi e Prestiti”), a company that holds 35% of Poste Italiane’s share capital, that in turn is owned by the MEF.
At the same time the Board of Directors resolved the sale of the entire equity interest held by Poste Italiane in Nexi S.p.A. (“Nexi”) – amounting to 3.78% of the share capital – to Cassa Depositi e Prestiti.
The consideration for the purchase of Tim's shares will be paid (i) partly through the proceeds from the sale of Poste Italiane’s shareholding in Nexi to Cassa Depositi e Prestiti and (ii) partly through available cash.
The acquisition also enables the evolution of commercial relations between Tim and Poste Italiane. In this regard, negotiations are at an advanced stage for the provision of services to grant Postepay S.p.A. – a wholly owned subsidiary of Poste Italiane – access to Tim’s mobile network infrastructure.
Overall, the transaction represents a strategic investment for Poste Italiane, aimed at creating synergies between the companies and supporting, together with all relevant stakeholders, the consolidation of the Italian telecommunications market.
It is specified that the above-mentioned transaction qualifies as a “lesser importance” related-party transaction (since Poste Italiane and Cassa Depositi e Prestiti are under common control of the Ministry of Economy and Finance). Therefore, in accordance with the applicable laws and regulations, has been approved by Poste Italiane’s Board of Directors, following a favourable opinion expressed by Poste Italiane’s Related and Connected Parties Committee established within the company.
Poste Italiane is Italy’s largest service infrastructure network, providing logistics, financial, insurance, payments, telco, utilities and digital services to households, businesses and public administrations. For over 160 years, with 12,800 Post Offices, 120 thousand employees, €593 billion total financial assets, Poste Italiane has been an integral part of Italy’s social and productive fabric, unparalleled in terms of size, brand awareness, reach and trust
For further information please visit: www.posteitaliane.it
For further information:
Poste Italiane S.p.A. Investor Relations Poste Italiane S.p.A. Media Relations
Tel. +39 06 5958 4716 Tel. +39 06 5958 2097
Mail: investor.relations@posteitaliane.it Mail: ufficiostampa@posteitaliane.it
At the same time the Board of Directors resolved the sale of the entire equity interest held by Poste Italiane in Nexi S.p.A. (“Nexi”) – amounting to 3.78% of the share capital – to Cassa Depositi e Prestiti.
The consideration for the purchase of Tim's shares will be paid (i) partly through the proceeds from the sale of Poste Italiane’s shareholding in Nexi to Cassa Depositi e Prestiti and (ii) partly through available cash.
The acquisition also enables the evolution of commercial relations between Tim and Poste Italiane. In this regard, negotiations are at an advanced stage for the provision of services to grant Postepay S.p.A. – a wholly owned subsidiary of Poste Italiane – access to Tim’s mobile network infrastructure.
Overall, the transaction represents a strategic investment for Poste Italiane, aimed at creating synergies between the companies and supporting, together with all relevant stakeholders, the consolidation of the Italian telecommunications market.
It is specified that the above-mentioned transaction qualifies as a “lesser importance” related-party transaction (since Poste Italiane and Cassa Depositi e Prestiti are under common control of the Ministry of Economy and Finance). Therefore, in accordance with the applicable laws and regulations, has been approved by Poste Italiane’s Board of Directors, following a favourable opinion expressed by Poste Italiane’s Related and Connected Parties Committee established within the company.
Poste Italiane is Italy’s largest service infrastructure network, providing logistics, financial, insurance, payments, telco, utilities and digital services to households, businesses and public administrations. For over 160 years, with 12,800 Post Offices, 120 thousand employees, €593 billion total financial assets, Poste Italiane has been an integral part of Italy’s social and productive fabric, unparalleled in terms of size, brand awareness, reach and trust
For further information please visit: www.posteitaliane.it
For further information:
Poste Italiane S.p.A. Investor Relations Poste Italiane S.p.A. Media Relations
Tel. +39 06 5958 4716 Tel. +39 06 5958 2097
Mail: investor.relations@posteitaliane.it Mail: ufficiostampa@posteitaliane.it
