Poste Italiane, negotiations continue for PagoPa and growth in TIM

(Alliance News) - Poste Italiane is considering two operations: increasing its stake in TIM by purchasing an additional 2.5% from Vivendi, bringing it to 27.3%, and entering PagoPa with a 49% stake. CEO Matteo Del Fante has not denied the negotiations.

As Il Sole 24 Ore reported on Thursday, the purchase of the new TIM package would be worth over EUR250 million at current prices.

In the past, Poste had ruled out exceeding the 25% threshold to avoid a mandatory takeover bid, but the government's recent green light for the reform of the TUF - which raises the limit to 30% - may have changed the balance.

Pending parliamentary approval, Poste could use the exemption provided for in Article 49 of the Issuers Regulation, provided that the stake exceeding 25% is reduced within one year. The possible conversion of TIM savings shares would in any case reduce Poste's stake to 17%.

At the same time, the possibility of entering PagoPa, which would be 51% controlled by the Treasury Poligrafico and 49% by Poste, is proceeding.

At the TgPoste event, Del Fante reiterated the importance of talent for a service company. The award for aspiring journalists was given to Bianca Michelangeli, who will receive a scholarship and an internship at Poste, along with finalists Alessio Garzina and Francesco Gaudiosi.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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