Poste Italiane moves forward first and notes a share of the 9.8% of TIM’s capitalanticipating the other contenders including, according to recurring rumors on the market, the French telephone operator Iliad and the CVC Capital fund are reported. Poste, of course, acts Through the CDP parent company and aims to take on a Active role in the consolidation phase of the TLC sector in Italy.
A position that the market is appreciatingso much so that the Tim shares are exchanged Relzo on the Stock Exchange (+0.73% to 0.277 euros)with high volumes (in a few minutes more than 70 million shares passed, on a medium monthly daily volume of 366 million). Also Italian post office reacts well, with a progress of 0.58% to 14.785 euroswith more contained volumes (135 thousand pieces exchanged on 1.6 million averages treated daily in the last month).
The “hot” judgments of analysts are positive. Equity He expressed himself positively on the operation, speaking of synergies and opportunities for the two companies and confirming a “buy” judgment with target price for 15 euros.
The purchase of TIM share in exchange for Nexi
The Board of Directors of Poste Italiane, during the weekend, approved the acquisition of approximately 9.81% of the shares Telecom Italia (TIM) ordinary currently held by Cassa Depositi e Prestiti (CDP), a company that holds 35% of the capital of Poste Italiane and is in turn controlled by the MEF.
At the same time, the board approved the sale of the entire participation detained by Poste Italiane by Nexi – equal to 3.78% about the share capital – in favor of the same Cassa Depositi e Prestiti.
The fee for the purchase of TIM’s shares will be recognized in part through the proceeds deriving from the transfer from Poste Italiane to Cassa Depositi and loans of the participation by Nexi and partly by means of a cash available.
The reasons for the operation
“The acquisition enables theevolution of commercial relations between TIM and Italian Post Office – reads the post office of Poste – In this regard, the negotiation for the provision of services for the access of Postepay (company entirely controlled by Poste Italiane) to the infrastructure of TIM mobile network“.
“The operation represents for Poste Italiane a Investment of a strategic naturewith the aim of creating synergies between companies and promoting, with all the actors concerned, the consolidation of the telecommunications market in Italy “, explains the company led by Matteo del Fante.
As for CDPincreasing one’s own sticker stakes from the current 14.46% to 18.25% overall, strengthens “the Support for industrial strategy“Of a company, protagonist in Europe in the infrastructure of digital payments.
