Poste Italiane has expanded its stake in Telecom Italia (BIT: TIT) by acquiring an additional 1% on the open market at Piazza Affari. The state-backed group headed by Chief Executive Matteo Del Fante purchased the shares at prices ranging between 6.577 euros and 6.624 euros, bringing its total holding to 86.952%.
The Bottom Line
- Total Ownership: Poste Italiane reached an 86.952% stake in Telecom Italia (BIT: TIT), combining 429,363,990 legacy shares, tender offer acceptances, and recent open market acquisitions as reported by Milano Finanza and Il Sole 24 Ore.
- Pricing Strategy: The buying price stayed strictly capped below 6.65 euros per share, exploiting a recent market pullback that saw the target company’s stock drop 1.59% to 6.57 euros prior to settlement day.
- Operational Control: Direction and coordination activities officially commenced on Wednesday, September 30, giving the postal group immediate visibility over major strategic initiatives while preserving legal autonomy for minority shareholders.
Market Purchases Push Stake Toward Squeeze-Out Threshold
Poste Italiane capitalized on a downward movement in target share valuations following the close of its public purchase tender offer (OPAS). According to reporting from ilsole24ore.com, the group acquired roughly 1% of the telecommunications operator directly on the market to round out its existing position. Total holdings now stand at 1,857,060,167 ordinary shares.
The acquisition price per share did not exceed the 6.65 euro ceiling set by the buying strategy, executing instead within a narrow band between 6.577 euros and 6.624 euros. This open-market accumulation occurred as the stock dipped 1.59% to close at 6.57 euros at Piazza Affari. The maneuver edges the postal operator closer to the critical 90% threshold required to trigger a mandatory squeeze-out, which would force remaining minority shareholders to sell and clear the path for a complete delisting from the Milan stock exchange.
Strategic Coordination Begins Ahead of OPAS Settlement
Even as the final settlement date for shares tendered during the reopening of the offer window arrived, administrative integration was already underway. milanofinanza.it confirmed that direction and coordination activities commenced on Wednesday, September 30. Management from the postal conglomerate noted that the integration merges strategic objectives, industrial policies, and technical competencies to drive group-wide value creation.
| Metric / Holding Phase | Share Volume | Percentage of Capital |
|---|---|---|
| Legacy Holdings Prior to OPAS | 429,363,990 | circa il 20,104% |
| Post-OPAS Tender Level | — | 85.82% |
| Post-Open Market Acquisition | — | poco più dell’1% |
| Total Combined Holding | 1,857,060,167 | 86.952% |
Under this new governance framework, the parent organization secures early oversight regarding significant corporate maneuvers and strategic decisions. Legal boundaries remain in place to protect the legal autonomy of the telecom operator and its subsidiaries, safeguarding the rights of minority investors who have not yet exited.
Regulatory Calls at the European Forum
While ownership consolidation advanced in Milan, Telecom Italia (BIT: TIT) Chief Executive Pietro Labriola addressed industry policy abroad. Speaking at the FT Connect Europe Forum in Brussels, Labriola urged European regulators to alter their approach toward the telecommunications sector and “change pace on telecommunications regulation,” as reported by milanofinanza.it.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.
