Poste rises to 27.32% of Tim: Vivendi's remaining stake acquired

Poste Italiane rises to 27.32% of Tim's ordinary share capital by acquiring an additional stake from Vivendi. A note issued by Poste indicates that, as resolved today by the board of directors, "the acquisition of the residual stake held by Vivendi in Tim was formalised, consisting of 384,099,915 ordinary shares corresponding to 2.51% of the total ordinary shares and 1.80% of Tim's share capital. The purchase consideration is equal to the closing price of the shares on 10 December 2025, totalling €187 million, and will be financed through available cash."

At the end of the acquisition, Poste Italiane - already a shareholder with 24.81% of the ordinary shares - will have a total stake of 27.32% of Tim's ordinary shares, corresponding to 19.61% of the share capital, thus exceeding the current threshold relevant for the purposes of the regulation on mandatory tender offers.

In this regard, Poste Italiane declares its intention to avail itself of the exemption provided for in Article 106, paragraph 5, of Legislative Decree 58/1998 and Article 49, paragraph 1, letter e), of Consob Regulation 11971/1999. Therefore - under the current regulatory framework - Poste Italiane undertakes to sell to unrelated parties the ordinary shares held in excess of the aforementioned relevant threshold, within 12 months from the completion of the purchase, refraining, in the meantime, from exercising the voting rights relating to such shares. With this transaction, concludes the note, Poste Italiane reinforces the strategic investment made in Tim, confirming its objective of playing the role of long-term industrial shareholder, through the realisation of synergies and the creation of value for all stakeholders.