Poste: Del Fante says that if the stake falls below the 66.67 per cent threshold, TIM’s board of directors will decide

Whether or not to go ahead with the operation

(Il Sole 24 Ore Radiocor) - , 20 July - Poste Italiane’s bid for TIM, which began today, “closes on 11 September; the Poste Italiane board of directors has stated that, once the 66.67 per cent threshold is exceeded, we are obliged to proceed. If the level falls below that threshold, the board will have to decide” whether or not to proceed with the transaction. This was clarified by Matteo Del Fante, chief executive of Poste Italiane, in an interview with Focus Economia on Radio 24. “At the moment,” he pointed out, “it is too early to say; we have not yet decided whether to proceed or not.”

In theory, the public takeover bid prospectus published yesterday sets out the possibility of waiving the threshold. As Del Fante clarified today, the board of directors will have to give its opinion on this matter.

Sim