Poste boosts cash offer in Telecom Italia takeover bid
Poste boosts cash offer in Telecom Italia takeover bid
Tue, September 8, 2026 at 6:16 AM UTC
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MILAN, Sept 8 (Reuters) - Poste Italiane has raised the cash component of its takeover offer for Telecom Italia, sweetening terms for shareholders as it seeks to secure control of Italy's former phone monopoly.
Poste, which had previously built a 20% stake in TIM, launched its bid earlier this year as part of a plan to create a national champion in digital infrastructure and services.
State-controlled Poste said late on Monday it would increase the cash component of its offer by 18% to €1.97 per share, while confirming an exchange ratio of 0.218 newly issued Poste shares for each TIM share tendered.
Based on Monday's closing prices, the revised terms value the offer at €13.15 billion ($15.29 billion), around €550 million more than the previous bid.
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The increase followed a sluggish response ahead of Friday's offer deadline, with Reuters calculations based on bourse data showing Poste has so far secured only an additional 5% of Telecom Italia's share capital through the bid. At Monday's close, TIM shares were trading at €7.42, implying a premium to the €7.39 value of Poste Italiane's offer.
The offer period will reopen from September 21 to 25, Poste said.
($1 = 0.8598 euros)
(Reporting by Chandni Shah in Bengaluru and Elvira Pollina in Milan. Editing by Edmund Klamann, Cynthia Osterman and Mark Potter)
Source: “AOL Money”
