There has been talk of Poste Italiane’s takeover bid on Tim for months but now a very strong signal has arrived. Both the CEO Pietro Labriola and the top management of the key Italian telephone group accepted the offer, contributing their shares.
News that is not surprising but which, in fact, was not so obvious. Everything comes just a few days before the closing of the membership period, set for Friday 11 September. In fact, the leaders gave their “endorsement” to the Post Office’s move.
Opas Poste, Tim’s membership
Let’s first take a step back, although this topic has been talked about for a long time. The takeover bid is a public purchase and exchange offer, in this case launched by Poste Italiane (announced on 18 July 2026).
This specifically provides for a consideration for each Tim share owned, equal to 0.218 newly assigned Poste shares, plus 1.67 euros in cash. A “mixed” offer that combines a securities component and a cash component.
The shares were already conferred by Pietro Labriola, CEO of Tim, and by the main managers of the group. An acceleration of the process close to the deadline. A step that formalizes the support of top management, therefore, revealed through “internal dealing” communications (transparency obligations envisaged for the trading of securities by those who hold key positions in the company).
What the market values say
According to the prices, Tim shares are trading today, 7 September, at 7.7 euros, while Poste moves around 26.7-26.9 euros. According to what was indicated by Handlethe offer traded at a discount of approximately 2.4% to Tim’s market price.
In simple words, we continue to wait for a possible adjustment of the cash component by the Post Office. However, a possible relaunch should be announced in good time to allow the automatic extension of the offer period. Consequently, the securities purchased in the last few days could not be delivered.
The participation of Labriola and the management adds to the opinion already expressed by the Tim board of directors. The offer was deemed reasonable on the economic front. At the time of the news, the takeover bid had gathered support for approximately 5.5% of Tim’s capital. A still limited share but, considering the public support, the choices of undecided shareholders could be modified.
