Poste Italiane receives Consob's green light to the offer document relating to the public purchase and exchange offer (Belt) voluntary and totalitarian promoted on the ordinary shares of TimThe Commission's green light comes after the authorization of Bank of Italy, arrived on July 14, 2026, for the indirect acquisition, through Tim, of a qualified stake in the financial company TimFin.
Now the operation gets into full swing: the period of Registration will begin at 8:30 am on July 20, 2026 e will end at 17:30 PM on September 11, 2026, subject to any extensions by the Supervisory Authority. In total they will be 40 days of trading shareholders' availability to evaluate the offer.
World Titles weak to Business Square: both are down about half a percentage point.
Poste Italiane-Tim takeover bid: the deal price for shareholders
Il corresponding proposed by Poste Italiane combines liquidity and securities. For each TIM share tendered in acceptance, shareholders will receive 1,67 euros in cash e 0,218 Poste ordinary shares Newly issued Italian shares, with regular dividend rights and the same characteristics as Poste Italiane shares already listed. The new securities will be traded on Euronext Milan.
Il payment of the consideration will take place on the fifth trading day following the closing of the membership period, therefore the 18 September 2026, subject to any changes to the operation schedule.
The operation, considering the current market values and the share already held by Poste, values Tim at around 13,4 billion of euros. The objective of the group led by Matteo Del Fante is to reach 100% of the capital of Telecom Italia and subsequently proceed to delisted of the Tim title from Piazza Affari.
Poste-Tim offers may reopen
For shareholders who do not participate in the first window, the possibility of a reopening of deadlinesPoste Italiane reminds that, if the conditions set out in the Issuers' Regulations are met, the offer may be reopened for five trading sessions, from the 21 to the 25 September 2026In this case the transaction regulation would be fixed for October 2, 2026.
The offer document will be filed with Consob and made available to the public at the offices of the parties involved in the transaction and on the websites of Poste Italiane and the global information agent Sodali & Co.
The launch of the takeover bid also changes the financial communications calendar of the group led by Matthew Del Fante: Friday 24 July 2026 Poste will present to the market, in a conference call, the results consolidated for the first half of the year, while the update of the business plan, initially scheduled for the same date, it will not be released.
