Tim: on the final day of the takeover bid, acceptance stands at 46.5 per cent; Poste’s stake is 66.6 per cent
It meets the threshold condition that had been removed
(Il Sole 24 Ore Radiocor) - , - Acceptance of the public takeover bid launched by Poste Italiane for 100 per cent of Telecom Italia rose to 46.5 per cent of the share capital on the final day of the offer. Poste Italiane’s total stake in TIM has therefore risen to 66.6 per cent. On the final day of the offer, Poste Italiane’s stake essentially reached the 66.7 per cent threshold that it had envisaged when the takeover bid was launched, but which was subsequently removed when the cash portion of the offer price – amounting to 30 centesimi – was relaunched.
The takeover bid is scheduled to reopen from 21 to 25 September. Today, TIM’s chief executive, Pietro Labriola, speaking at an event at Luiss BS, also pointed out that in takeover bids, the bulk of acceptances tend to come in the final stages.
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