Poste Italiane’s offer for 100% of TIM is based on the growth prospects emerging in a strategic sector undergoing profound transformation. As Poste Italiane CEO Matteo Del Fante stated, investments will not be lacking to support this strategy. “It is time to think about where we will be in 10–15 years,” said the CEO in an interview with Bloomberg TV. “This is a highly strategic sector and there is a transition underway: either you ride it or you don’t. We intend to ride it.”
Platform company
Del Fante explained that Poste Italiane is a “platform company which, by definition, consists of customers and products connected through technology. With TIM, there is a perfect fit in terms of customer base and technology, fully aligned with our strategy. We have a very solid balance sheet and we will do everything necessary to support Telecom Italia’s investments.”
Market appreciation
During the interview, Del Fante highlighted that since Poste Italiane became a shareholder, “Telecom Italia has delivered its best stock market performance in the last 25 years.”
“The market has appreciated the results,” he said, “and we realized that we needed to aim for full control of the company because, with a 27% stake, we were not fully benefiting from the synergies.” “We started this journey five years ago,” Del Fante concluded. “It was not a sudden decision, nor did we receive any pressure from the Government,” he added.
