
Poste Italiane Eyes BroadbandâUnit Sale to Cement Grip on TIM
âĒBy ADMIN
Related Stocks:TIMB
Stateâbacked Poste Italiane is weighing whether to sell its broadband arm, PosteMobile, as part of efforts to maintain control over Telecom Italia (TIM), people familiar with the matter told Reuters. Poste currently owns a 24.8% stake in TIM â making it the largest shareholder â but remains just below the 25% threshold that would trigger a formal takeover bid.
Under a plan under consideration, Poste would transfer PosteMobile to TIM in exchange for ordinary TIM shares. That move could help offset dilution that would occur if TIM converts its âsavings sharesâ into ordinary shares â an action that analysts expect would reduce Posteâs effective stake to around 17%.
PosteMobile serves roughly five million customers and analysts estimate its value at about âŽ900âŊmillion ($1.1âŊbillion). Another option under review is for Poste to buy the remaining 2.5% of TIM shares held by Vivendi â a stake currently worth around âŽ200âŊmillion.
No final decisions or timing have been confirmed, and both Poste and TIM declined to comment on the possible deal.
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