Postpe to have Telecom Italia’s No. 1 investor by purchasing 15% of the vivendi

By Elvira Pollina and Giuseppe Fonte

Milan (Reuters) -Poste Italiane, Vivendi’nin Telekom Group Vivendi’s share 24.8% of the phone group in the phone group, said Poste was sent on Saturday.

Earlier, which sources reported to Reuters, the post, which reduces the post to 18.4%, he said he received a 15% share in Tim.

Poste, each by 0.2975 euros, investing 684 million euros ($ 741 million), he said he would use existing cash to buy shares.

This is compared to the closing price for Tim on Friday, 0.3126, the 4.8% discount.

Poste said that this would remain below 25% of the Italian law, it would have to make an offer for the rest of Tim.

This will act as a long-term shareholder in Tim after the “Strategic Investment”, and will operate as a supportive sector consolidation, looking for potential benefits of cooperation between the two companies.

The poste-run poste of enterprises, as well as posts and parliament services, as well as postal and parcels, is replaced by the State Lender CDP in TIM with 9.8%.

Tim is a former telephone monitor of Italy and a strategic national importance.

After closing a stable grid last year, Tim can now take part in an expected sector in an expected sector, which can take part in a consolidation in a sector where the required investment is very thin to finance the required investment.

If it coordinates another telecom firm to protect a meaningful presence in Tim for Rome, first needed to increase his share in the post.

Reuters say that he is ready to increase the post of Posten. Sources said in talks with Posthe Vivendi earlier this week.

The high treasury official also said that this week is “right credentials” and “correct credentials” to be “correct credentials” because it can be both financial and industrial partner.

($ 1 = 0.9236 euro)

(Additional report and writing by Valentina ZA by Mark Potter)