Post e Tim "They have different and highly complementary histories, assets, and expertise. Bringing them together can create opportunities that would be more difficult to seize separately: in digital services for families, businesses, and public administration, in the cloud and cybersecurity, in artificial intelligence, and, more generally, in the country's digital transformation." Peter Labriola, CEO of Tim in a letter to employees, taking stock of thePost Office takeover bid. "Size matters. I've been saying this for a long time when speaking about our sector: to compete and continue investing, you need scale. The prospect we have before us can give us just that, bringing together two large Italian companies and building an industrial project capable of looking beyond their respective borders."
Tim and the postal takeover bid, Labriola writes to employees
Last Friday, he continues, "the first phase of the offer ended and Poste Italiane reached the 66,627 % of TIM's capital, acquiring controlling interest. This is an important step in our company's history. And I also believe it's the right time to pause for a moment and look back at the path we've taken to get here."
“Four years ago, Tim,” Labriola recalls, “was a company with structural problems that severely limited its prospects.
We made difficult choices, some considered nearly impossible at the time. We separated the network, significantly reduced debt, reorganized our businesses, and restored the company's commercial freedom and ability to invest and compete. At the same time, we continued to build the future: 5G, cloud, cybersecurity, data centers, artificial intelligence. We strengthened Tim Enterprise, relaunched the consumer and continued to grow Tim BrazilWe did it with a very simple goal: to make Tim solid, credible and capable of growth again."
Today, he emphasizes, "the results of that work are before us. The words used in recent days by Poste Italiane's top management recognize the value of this journey and, above all, open up a new perspective. What only a few years ago would have seemed an 'unimaginable' operation is now being described as a joint, ambitious, and strategic industrial project for the country, capable of competing internationally. This is exactly where we must start."
