Intermonte ups Poste to 'overweight', recommends to tender TIM shares in bid

Telecom Italia

22/07/2026 13:43

** Italian broker Intermonte ups Poste Italiane PST.MI rating to "outperform" from "neutral" and moves Telecom Italia TLIT.MI (TIM) to a "tender" rating, as it recommends shareholders to accept Poste's bid for the group
** Poste's offer to delist TIM and create the largest Italian integrated platform is "expected to create significant medium-term opportunities," says Intermonte, raising its PT for the bidder by 36% to €33.0 
** The broker's combined model assumes earnings per share neutrality in 2027, with material accretion thereafter and around €700 million of annual cost synergies
** In a separate note, Intermonte says TIM's standalone value is "below both the implied offer value," urging shareholders to tender their shares and revoking its PT for the stock

    ** Out of 14 analysts that cover Poste Italiane, eight rate the stock "buy," and ​six rate it "hold" - LSEG data
  

 (Reporting by Fabrizio La Rocca)
 ((Fabrizio.larocca@thomsonreuters.com))