Poste Italiane's CEO Matteo Del Fante defended the company's €10bn takeover bid for Telecom Italia (TIM), calling it a market-driven move despite criticism that it revives state-backed dominance. Poste, which owns 27.5% of TIM after years of gradual accumulation, argues the deal would reduce Rome's stake from 65% to 50% in the merged entity, increasing free float and aligning with privatization goals. Del Fante emphasized Poste's transformation from a postal service to a tech-focused group, highlighting synergies with TIM's corporate client base and Poste Mobile's integration.

The bid offers TIM shareholders €0.167 cash plus 0.0218 Poste shares per share, a 9% premium to pre-bid prices. Del Fante noted TIM hasn't paid dividends in five years, promising a 2% payout post-deal rising to 8% by 2028. Critics argue the move contradicts Italy's privatization era, but Poste insists its offer reflects TIM's improved performance since Poste's stake grew. The deal, expected by September, would create Italy's largest telecom operator, combining Poste's 5 million mobile users with TIM's enterprise strength.

TIM's turbulent history includes a €22bn KKR sale of its fixed-line network in 2022 and a plummeting share price from €8 in 2000 to €0.25 in 2025. Poste, meanwhile, tripled its value since partial privatization in 2015, with Del Fante driving its tech pivot. The merger aims to broaden customer reach and stabilize TIM's debt-laden legacy. Analysts question if sweeteners may be needed, but Del Fante insists the current offer balances immediate value with long-term growth potential.

Market consolidation in Italy's telecom sector intensifies as Poste challenges Vodafone-Fastweb's dominance. With 150,000 combined employees, the merged entity would reshape industry dynamics. Del Fante's vision hinges on leveraging Poste's consumer base and TIM's B2B expertise to drive future profitability, positioning the deal as both a strategic and financial imperative.