Finance
Italy's Poste Seeks Meeting With Telecom Italia Board Over Takeover Bid, Sources Say
Published by Global Banking & Finance Review®
Posted on March 28, 2026
2 min readLast updated: April 1, 2026
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Italy’s state-backed postal group Poste Italiane has formally requested a meeting with Telecom Italia’s board for CEO Matteo Del Fante to present its €10.8 billion cash-and-share offer to take TIM private, aiming to enhance digital services and national control through data‑centre and cybersecurity
Poste Italiane Bids €10.8 Billion for Telecom Italia, Requests Board Meeting
Poste Italiane's Bid and Its Implications for Telecom Italia
By Elvira Pollina
Overview of the Bid
MILAN, March 28 (Reuters) - Poste Italiane has asked the board of Telecom Italia (TIM) for a meeting where Chief Executive Matteo Del Fante could present the postal services group's 10.8 billion euro ($12 billion) cash-and-share bid for the former phone monopoly, two sources close to the matter said on Saturday.
State-backed conglomerate Poste last Sunday unveiled a bid to take TIM private and create a national digital champion, strengthening state control of assets that handle critical household and corporate data.
The offer had not been previously agreed with TIM.
Request for Board Meeting
The sources said Del Fante sent a letter to TIM's directors this week asking for an opportunity to illustrate the offer to the board.
Strategic Rationale and Potential Benefits
Poste's Expansion in Digital Services
Poste, which offers logistics, financial, payments, broadband and insurance services, has forecast 700 million euros in yearly benefits to earnings from the combination.
The deal would give Poste control of TIM's data‑centre network and its cybersecurity unit Telsy, expanding Poste's role in digital services directed at consumers, large companies, and government bodies.
Next Steps and Board Considerations
TIM Board's Upcoming Decisions
TIM's directors will discuss Del Fante's request at a previously scheduled meeting on Sunday, the sources said, adding that the bid's presentation was then expected to take place in the coming weeks.
Poste and TIM declined to comment.
Selection of Advisers
On Sunday, TIM's directors are also expected to pick advisers to help with the assessment of Poste's bid.
Other Board Matters
The TIM board is also expected decide the early termination of a long-term contract with tower company Inwit, mirroring a similar move by Swisscom's Fastweb, the sources said.
Poste's Stake in TIM
Poste is TIM's leading investor with 27% of its ordinary share capital, a stake that will fall close to 20% after TIM converts some special shares it has outstanding into ordinary stock in May.
($1 = 0.8690 euros)
(Editing by Valentina Za)
Key Takeaways
- •Poste Italiane—already TIM’s largest shareholder with ~27 % of ordinary shares—has launched an unsolicited €10.8 billion takeover bid combining cash and shares to take TIM private and create a national digital champion.
- •The bid would grant Poste control of TIM’s data‑centre infrastructure and cybersecurity arm Telsy, positioning Poste as a key player in providing integrated digital, insurance, logistics, payments and broadband services.
- •TIM’s board is set to meet Sunday to not only discuss the requested meeting but also to appoint advisers to assess the offer and potentially terminate its Inwit tower contract, aligning with similar moves by Fastweb parent Swisscom.
References
- Vivendi Signs an Agreement With Poste Italiane for the Sale of TIM Shares
- Poste Italiane increases its stake in TIM’s ordinary share capital to 27.32% by acquiring an additional 2.51% from Vivendi
- Antitrust clears Poste Italiane's Telecom Italia stake purchase, say sources
- UPDATE 2-Telecom Italia moves to ditch costly savings shares
Frequently Asked Questions about Italy's Poste seeks meeting with Telecom Italia board over takeover bid, sources say
1What is Poste Italiane proposing to Telecom Italia?
Poste Italiane is proposing a €10.8 billion cash-and-share bid to take Telecom Italia private and create a national digital champion.
2Why does Poste want to acquire Telecom Italia?
Poste aims to strengthen state control over critical digital assets and expand its role in digital, financial, and cybersecurity services.
3Has Telecom Italia agreed to the takeover bid from Poste?
No, the bid had not been previously agreed with Telecom Italia before Poste requested a board meeting to present the offer.
4What assets would Poste gain from the takeover?
If successful, Poste would control TIM's data-centre network and cybersecurity unit Telsy, increasing its reach in digital services.
5When will Telecom Italia's board discuss Poste's request?
The board will discuss Poste's request and choose advisers for the bid's assessment at a scheduled meeting on Sunday.
