Poste Italiane Launches €10.8B Bid to Fully Acquire Telecom Italia
Italy's state-majority-owned postal giant moves to buy out Telecom Italia in a massive cash-and-share deal.
Poste Italiane just dropped a bombshell: a €10.8 billion cash-and-share offer to fully acquire Telecom Italia. The Italian majority-state-owned postal service announced the move on Sunday, looking to consolidate its grip on the telecom company.
This isn't exactly a cold call. Poste Italiane is already Telecom Italia's largest shareholder, making this a logical — if enormous — next step. The deal would bring Telecom Italia entirely under Poste's roof.
At €10.8 billion, this ranks as a significant European telecom consolidation play. The combination of a national postal service swallowing a major telecom operator signals continued convergence between traditional infrastructure players and connectivity companies across Europe.
Details on the exact cash-to-share split and timeline for the offer remain to be seen as the deal progresses.