Poste Italiane raises the price of the takeover bid on Telecom Italia. The board of directors of Poste, meeting today, resolved to increase the consideration of the offer by recognizing an additional cash component of 0.30 euros for each Tim share tendered to the offer (additional cash component).
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Therefore, upon completion of the offer, for each Tim share tendered, the consideration will be increased by the additional cash component and will consist overall of: 0.218 newly issued ordinary Poste shares; and the cash component already provided for in the offer document, equal to 1.67 euros, increased by the additional cash component of 0.30 euros, thus totaling 1.97 per share (together with the share component).
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