Post Office: Del Fante, we will retain the Tim name and shops. ‘Strength in unity: 1 plus 1 equals three’
“Tim is a leading company in cloud and AI, whilst Poste has a larger balance sheet and greater investment capacity.” This was stated by Matteo Del Fante, chief executive of Poste Italiane, in an interview with Focus Economia on Radio 24 on the first day of Poste’s takeover bid for Tim, regarding the objectives of the bid.
“There is strength in numbers, at a time when the scale of investment in data centres, AI and digital transformation is becoming increasingly significant. TIM is a leading company in cloud and AI, whilst Poste Italiane has a larger balance sheet and greater investment capacity. By joining forces, we can achieve more than we could on our own. One plus one equals three.”
This was stated by Matteo Del Fante, chief executive of Poste Italiane, in an interview on Radio 24’s *Focus Economia* programme on the first day of Poste Italiane’s takeover bid for TIM, when asked about the bid’s objectives.
The bid by Poste Italiane for Tim, which began today, “closes on 11 September; the Poste Italiane board of directors has stated that, should the threshold of 66.67 per cent be exceeded, we are obliged to proceed. Should the level fall below this threshold, the board will have to decide” whether or not to proceed with the transaction. This was clarified by Matteo Del Fante, CEO 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 Opas prospectus published yesterday mentions the possibility of waiving the threshold. As Del Fante clarified today, the board of directors will have to give its opinion on this matter.
“Poste currently has the largest number of customers in terms of digital connections, but also the largest number of physical branches across the country. We want to make this customer base available to TIM,” explained Matteo Del Fante
