Milan (Reuters) – Italiane post has agreed to buy most of Vivendi’s participation in Telecom Italia () and replaces the French group as the main investor of the telephone group with a participation of 24.8%, post on Saturday.
Confirming Informations of Reuters, post announced the acquisition of a 15% participation in TIM in Vivendi, which had recently reduced its participation to 18.4%.
Post mentioned the use of available liquidity to finance the investment of 684 million euros ($ 741 million), by buying TIM shares at a price of 0.2,975 euros per unit.
TIM’s fence course was 0.3126 Friday, a 4.8 %discount.
Post said that it would remain below the 25 % threshold beyond which, under Italian law, it should make an offer for the rest of Tim.
She added that she would act as TIM long -term actionary following this “strategic investment” by seeking the potential advantages of cooperation between the two companies and supporting the consolidation of the sector.
La Poste, controlled by the State, whose activities include energy, payments and telephone services as well as mail and parcels, has become a first investor in TIM in February, with a participation of 9.8 %, to replace CDP.
Former Italian telephony monopoly, Tim is a company of national strategic importance.
($ 1 = 0.9236 euro)
(Elvira Pollina and Valentina Za; Elizabeth Pineau)
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