Poste Italiane Unveils $12.50 Billion Offer for Telecom Italia

Dow Jones03-23

By P.R. Venkat

State-controlled postal service Poste Italiane has made a $12.50 billion offer to acquire Telecom Italia.

The postal-services company said Sunday that it was offering a combination of cash and shares, with Telecom Italia shareholders to receive 16.7 euro cents in cash and 0.0218 newly issued Poste Italiane shares for each share held.

The 10.8 billion euro consideration values the Italian telecommunications company at 63.5 euro cents a share, representing a 9.01% premium to Telecom Italia's closing price on March 20.

Poste Italiane said the transaction is aimed at creating a single group that would integrate two of Italy's largest industrial companies.

"Following completion of the offer, Poste Italiane shares will benefit from a large and highly liquid free float of over 15.0 billion euros, with a high-quality shareholder base," the company said.

Poste Italiane said the offer will be carried out in accordance with applicable regulations and subject to the required approvals.

The company expects the transaction to be completed by the end of the year.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

March 22, 2026 21:31 ET (01:31 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Venkat \n\n\n \n\n\n  State-controlled postal service Poste Italiane has made a $12.50 billion offer to acquire Telecom Italia. \n\n\n  The postal-services company said Sunday that it was offering a combination of cash and shares, with Telecom Italia shareholders to receive 16.7 euro cents in cash and 0.0218 newly issued Poste Italiane shares for each share held. \n\n\n  The 10.8 billion euro consideration values the Italian telecommunications company at 63.5 euro cents a share, representing a 9.01% premium to Telecom Italia's closing price on March 20. \n\n\n  Poste Italiane said the transaction is aimed at creating a single group that would integrate two of Italy's largest industrial companies. \n\n\n  \"Following completion of the offer, Poste Italiane shares will benefit from a large and highly liquid free float of over 15.0 billion euros, with a high-quality shareholder base,\" the company said. \n\n\n  Poste Italiane said the offer will be carried out in accordance with applicable regulations and subject to the required approvals. \n\n\n  The company expects the transaction to be completed by the end of the year. \n\n\n \n\n\n  Write to P.R. 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