Poste Italiane offers €10.8B for TIM in Italy

Poste Italiane launched a voluntary public tender offer for Telecom Italia (TIM) on 22 March, valuing the proposed takeover at €10.8 billion. The offer targets TIM in Italy and combines cash with newly issued Poste Italiane shares.

Poste Italiane said the cash-and-share consideration is worth just over €0.63 per TIM share. The company said this represents a 9% premium to TIM's closing share price on 20 March. TIM figures released in December 2025 showed Poste Italiane was already TIM's largest single shareholder with a 27% stake.

The proposed acquisition would add TIM's fixed and mobile network assets, cloud infrastructure, and data centre infrastructure to Poste Italiane's existing businesses in postal services, financial services, insurance, and logistics. The transaction still requires regulatory approval, and Poste Italiane is targeting completion by the end of 2026. The deal is also notable because Poste Italiane's two largest shareholders, which hold a combined majority, are run by the Italian state.