Poste Italiane takes indirect control of TIM S.A. with 66.6% stake

Brazilian telecom operator TIM S.A. announced on 18 September 2026 that Italian state-backed company Poste Italiane has concluded the acquisition of control over Telecom Italia. As the parent firm of TIM Brasil, the shift makes Poste Italiane the new indirect controlling shareholder of the Brazilian business.

The transaction was executed through a voluntary tender and exchange offer for Telecom Italia shares. Financial settlement took place on Friday, 18 September 2026, lifting Poste Italiane's overall holding to 66.627% of Telecom Italia's share capital.

During the initial offer window that ended on 11 September 2026, shareholders tendered 993.6 million shares, representing 46.523% of Telecom Italia's equity. Prior to the offer, Poste Italiane held a 20.104% stake consisting of 429.4 million shares. Following the settlement, it commands 1.423 billion ordinary shares.

Under the revised offer terms set on 7 September 2026, Poste Italiane offered 1.97 euros in cash alongside 0.218 of its own ordinary shares for each Telecom Italia share. That structure included a per-share cash sweetener of 0.30 euros.