Rome, March 22, 2026 – Poste Italiane has launched a voluntary public takeover bid for Telecom Italia (TIM), aiming to acquire 100% of the former phone monopoly in a deal valued at approximately €10.8 billion. The move, approved today by Poste Italiane’s Board of Directors, signals a significant shift in Italy’s telecommunications landscape and a push towards creating a national infrastructure champion.
The offer encompasses a maximum of 17,063,618,293 ordinary shares of Telecom Italia, representing the entirety of the company’s capital stock. Poste Italiane intends to ultimately delist TIM from Euronext Milan following the acquisition. This ambitious undertaking seeks to integrate two of Italy’s largest industrial entities, forging a combined group positioned as a key strategic asset for the national economy.
According to a statement released by Poste Italiane, the integrated group will grow Italy’s largest connected infrastructure platform, with leading positions in financial and insurance services, logistics, telecommunications, and digital services. Matteo Del Fante, CEO of Poste Italiane, is spearheading the effort to create what the company describes as “a true engine of innovation” and a cornerstone of national technological and infrastructural security.
The offer consists of a cash component of €0.167 for each TIM share tendered, alongside a stock component of 0.0218 newly issued ordinary shares of Poste Italiane for each TIM share. This values each TIM share at approximately €0.635, representing a premium of 9.01% over the closing price on March 20, 2026, as reported by AGI.
Strategic Rationale Behind the Acquisition
Poste Italiane’s rationale for the acquisition centers on leveraging and enhancing its existing platform. The company aims to add three key assets from TIM: a nationwide fixed and mobile network, a prominent position in the country’s cloud and data center infrastructure, and the ability to provide secure and sovereign connectivity to all stakeholders. The combined entity is projected to have aggregated revenues of around €26.9 billion and a pro-forma EBITDA of approximately €4.8 billion, employing over 150,000 people, according to AGI.
The move also reflects the Italian government’s interest in consolidating strategic assets. Poste Italiane is majority state-owned, with the Ministry of Economy holding a 29.26% stake directly and an additional 35% through CDP Equity. This backing underscores the national importance placed on securing control over critical telecommunications infrastructure.
TIM’s Response and Timeline
Telecom Italia has acknowledged the takeover bid and announced that its Board of Directors will convene tomorrow to commence evaluating the offer. The completion of the operation is currently anticipated by the end of 2026. Poste Italiane plans to hold a conference call tomorrow to provide further details on the transaction.
The offer is described as “highly attractive” by Poste Italiane, and the company intends to acquire 100% of TIM’s share capital. This would pave the way for the revocation of TIM’s listing on Euronext Milan, effectively taking the former state monopoly private.
Union Response
The proposed acquisition has been met with a positive response from labor unions. Raffaele Roscigno, Secretary General of SLP CISL, welcomed the move, describing it as an opportunity to “open a new season, that of worker participation in company results,” as reported by AGI.
The acquisition of Telecom Italia by Poste Italiane represents a pivotal moment for the Italian telecommunications sector. The integration of these two major players is expected to have far-reaching implications for competition, innovation, and the country’s digital infrastructure. The coming months will be crucial as TIM evaluates the offer and stakeholders assess the potential benefits and challenges of this transformative deal. Further updates will be provided as the process unfolds and regulatory approvals are sought.
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