Poste Expects Larger Telecom Italia Stake
Poste Italiane secured a 66.6 percent stake in Telecom Italia following the main phase of its takeover bid. CEO Matteo Del Fante expects an even larger stake when the offer reopens later this month.
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POSTE ITALIANE SPA secured a 66.6% stake in TELECOM ITALIA SPA after its takeover offer closed on Monday afternoon. The €13B transaction gives the state-backed conglomerate a controlling position in Italy's largest telecoms operator. The deal aims to build a national digital infrastructure champion as European governments seek tighter asset control.
