Poste Italiane Acquires 9.8% Stake in Telecom Italia

Poste Italiane has acquired a 9.81% stake in Telecom Italia (TIM) from the state lender Cassa Depositi e Prestiti (CDP) in a government-backed initiative aimed at consolidating control of the telecommunications sector. The swap involved Poste exchanging its 3.78% stake in electronic payments company Nexi with CDP, which now holds an 18.25% stake in Nexi. This move positions Poste as TIM's second-largest shareholder, following Vivendi, and is viewed as a strategy to counter foreign investments, particularly from companies like Iliad and CVC Capital Partners. The deal, orchestrated under Prime Minister Giorgia Meloni's government, reflects a nationalist approach to protect Italian interests within the telecommunications landscape. Following the announcement, TIM's shares fell by 7.6% amid fears that the merger discussions with Iliad could be jeopardized by this new arrangement. Poste aims to leverage this investment to enhance synergies with its existing services, particularly Post Mobile.