Poste Italiane, a state-backed company, is prepared to boost its recently acquired stake in Telecom Italia (TIM), according to three sources. This strategic move aims to fortify its position for potential mergers and acquisitions involving the telecom group. Poste declined to provide any comments on the matter.
Under the leadership of former JPMorgan banker Matteo Del Fante, the financial conglomerate recently surpassed state lender CDP as a major TIM shareholder by acquiring CDP's 9.8% stake. Although Poste has swiftly secured the stake, sources indicate that no definitive decisions have been made about future actions.
Poste, a company offering a range of services from energy to insurance, will unveil an updated strategy on Friday. The purchase of the stake precedes anticipated consolidation within Italy's telecommunications sector, characterized by intense price competition that has squeezed profit margins and hindered necessary investments.
Reports suggest that any potential deal involving TIM must involve the entirety of the company, as the government opposes separating its consumer and corporate divisions. Poste's increased investment could help maintain a significant state-sector presence in TIM's capital post any partnerships or acquisitions.
Poste's commitment to TIM aligns with its vision of fostering synergies between companies and aiding in the consolidation of Italy's telecom market. The company, while offering mobile services through its Poste Mobile unit, does not possess its own network infrastructure.