«In case of completion of the offer, the offeror intends, among other things, to proceed with the delisting of Tim in order to pursue the objectives of integration, creation of synergies, and growth of the Poste group.» This is what is stated in the information prospectus on the takeover bid (public offer to purchase and exchange) by Poste Italiane on Tim, approved by Consob and published on the morning of Sunday, July 19: a confirmation that, once the operation is concluded, the telecommunications company would be delisted and consolidated into the Poste Italiane group to become “The Connecting Platform,” a network offering payment, logistics, telecommunications, and energy services.
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It is also stated in the prospectus that «the offeror, as of the date of the offer document, has not made any decision regarding possible future extraordinary operations related to the issuer».
Regarding the threshold condition (the offeror’s participation equal to or less than 66.67% of the share capital), its waivability is confirmed.
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At full operation, expected synergies of 700 million annually
Poste Italiane, furthermore, «has identified a total potential of pre-tax synergies of at least euro 0.7 billion annually at full operation, of which euro 0.5 billion are attributable to cost synergies including efficiencies achievable on the current levels of the issuer’s financing cost and thanks to the optimization of its capital structure. Revenue synergies have been estimated at an amount exceeding euro 0.2 billion».
«No negative impact on employment or operational sites
On the employment front, the document states that Poste «does not foresee making substantial changes to the employment contracts of Tim employees and companies belonging to the Tim group. Therefore, it is not expected that the offer will have direct negative consequences on the overall workforce of the Tim Group in terms of working conditions or employment». At the end of 2025, Tim employees numbered 25,602 (16,847 in Italy and 8,755 abroad).
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