Poste Italiane strengthens its presence in Tim and closes thepurchase of the last package still in hand Vivendi, equal to 2,51%The operation, approved by the Board of Directors led by CEO Matteo Del Fante and announced after the market closed, concerns 384.099.915 ordinary shares, equivalent to 1,80% of the share capital.
Il price corresponds to the stock market closing on December 10, 2025, for a total of 187 million euro, entirely financed with available cash.
Poste over 25% of Tim: takeover bid threshold triggered, but the group resorts to exemption
With this move, Poste Italiane – already holding 24,81% of the ordinary shares – reaches a total stake of 27,32% in TIM, equivalent to 19,61% of the share capital. The new level of participation exceeds the 25% threshold which, according to the current rules, activates theobligation to make a public purchase offerThe group has however announced its intention to avail itself of theexemption provided for by the Consolidated Law on Finance and by the Consob Regulation. The exemption entails two commitments: sell the excess share to unrelated parties within 12 months and refrain from exercising voting rights on shares exceeding the threshold.
The regulatory framework could however change with the arrival of the new Tuf, which raises the takeover bid threshold to 30%. This change, once in force, would make exceeding 25% irrelevant.
Poste Italiane – in the statement – reiterates that the transaction is part of a "strategic" investment in TIM, with the aim of developing industrial synergies and creating value in the medium to long term.
From the point of view of the ownership structure of the group, the operation does not alter the underlying balance, but marks a symbolic step: it closes definitely the Vivendi's long season in the former Italian monopolist.
