Poste Italiane secures 85% stake in Telecom Italia

Poste Italiane bought an additional 65.7% of Telecom Italia, bringing its total stake to just under 86% after the 20% it acquired last year. The tender offer at €1.67 per share valued the deal at around €13 billion, but the company fell short of the 90% threshold needed to take the operator private.

• Poste Italiane acquired an additional 65.7% of Telecom Italia
• Its total stake in the operator reached just under 86%
• The €1.67-per-share offer valued the deal at around €13 billion
• The 90% threshold for delisting was not reached