Telecom Italia tops Milan's main index after Poste sweetens takeover offer

Telecom Italia

08/09/2026 09:04

** Shares in Italy's Telecom Italia (TIM) TLIT.MI gain 2.8% and rise to the top of Milan's blue-chip index .FTMIB after Poste Italiane PST.MI increased the cash component in its takeover bid for Italy's former phone monopoly
** Poste raised late on Monday its cash consideration by 18% to €1.97 per share, valuing TIM at €13.15 billion ($15.27 billion) based on Monday's closing price, €550 million more than its initial bid 
** The state-controlled group also waived the threshold condition of 66.7% voting rights and said the offer would reopen from Sept. 21 to Sept. 25
** "Poste will pay a modest price to increase its control on TIM and maximise the possibility of extracting synergies, simplifying governance and accelerating platform integration," broker Intermonte notes 
** It continues to recommend TIM shareholders to tender their shares to the offer
** Shares in Poste Italiane trade up 0.4%, outperforming the blue-chip index, which is down by 0.7%
** Telecom Italia's stock has gained almost 50% YTD


($1 = 0.8610 euros)

 (Reporting by Enrico Sciacovelli)
 ((Enrico.sciacovelli@thomsonreuters.com))