Poste has right credentials to be key TIM investor, says junior minister

Bpost SA

25/03/2025 11:58

MILAN, March 25 (Reuters) - Poste PST.MI has the "right credentials" to be a partner for Telecom Italia (TIM) TLIT.MI, a Treasury official said on Tuesday when asked if the state-backed company could replace France's Vivendi VIV.PA as TIM's single largest investor.

Last week Vivendi cut its stake in the Italian telecoms operator to 18.4% from 23.8%, in line with its earlier strategic decision to divest from TIM.

"Poste has all the right credentials to be a financial and industrial partner for TIM," junior Treasury minister Federico Freni told reporters in Milan.

Several Italian newspapers reported over the weekend that Poste could buy a stake of up to 15% in TIM from Vivendi VIV.PA, but stay just under a 25% threshold which would trigger a mandatory takeover.

Reuters reported in February that Poste was considering raising its 9.8% stake further after in February it had acquired the holding from Italian state lender CDP, and taking the  driving seat at TIM as Italy's telecoms market is seen ripe for consolidation.

By upping its holding in TIM, Poste would be able to ensure a significant state-sector presence in TIM's capital even after any tie-ups.

In announcing its investment in TIM in February, Poste said the operation was aimed at "creating synergies between the companies and favouring, with all the players involved, the consolidation of the telecommunications market in Italy".

 (Reporting by Giancarlo Navach and Elvira Pollina, writing by Philippe Leroy Beaulieu
Editing by Keith Weir)

 ((Philippe.LeroyBeaulieu@thomsonreuters.com;))