Poste Italiane increases its stake in TIM’s ordinary share capital to 27.32% by acquiring an additional 2.51% from Vivendi

As resolved at today’s meeting of the Board of Directors of Poste Italiane S.p.A. (“Poste Italiane”), the acquisition of the residual stake held by Vivendi SE (“Vivendi”) in Telecom Italia S.p.A. (“TIM”) has been formalized. The stake consists of 384,099,915 TIM ordinary shares, corresponding to 2.51% of the total ordinary shares and 1.80% of TIM’s share capital.
 

As resolved at today’s meeting of the Board of Directors of Poste Italiane S.p.A. (“Poste Italiane”), the acquisition of the residual stake held by Vivendi SE (“Vivendi”) in Telecom Italia S.p.A. (“TIM”) has been formalized. The stake consists of 384,099,915 TIM ordinary shares, corresponding to 2.51% of the total ordinary shares and 1.80% of TIM’s share capital.

The consideration for the purchase is equal to the closing price of the shares on December 10, 2025, amounting to a total of €187 million and will be financed using available cash.

Following the acquisition, Poste Italiane – already owning 24.81% of TIM’s ordinary shares – will increase its stake to 27.32% of ordinary shares, equivalent to 19.61% of TIM’s total share capital, thus exceeding the current threshold that triggers the mandatory tender offer obbligation.

In this regard, Poste Italiane declares its intention to rely on the exemption provided for in Article 106, paragraph 5, of Legislative Decree 58/1998 and Article 49, paragraph 1, letter e), of Consob Regulation No. 11971/1999. Accordingly, under the current regulatory framework, Poste Italiane commits to divest to unrelated parties the ordinary shares held in excess of the aforementioned relevant threshold within 12 months from the completion of the purchase, refraining, in the meantime, from exercising the voting rights attached to such shares.

With this transaction, Poste Italiane strengthens its strategic investment in TIM, confirming its objective to act as a long-term industrial shareholder, through synergies and value creation for all stakeholders.

Poste Italiane is Italy’s largest service infrastructure network, providing logistics, financial, insurance, payments, telco, utilities and digital services to households, businesses and public administrations. For over 160 years, with 12,800 Post Offices, 119 thousand employees, €601 billion total financial assets, Poste Italiane has been an integral part of Italy’s social and productive fabric, unparalleled in terms of size, brand awareness, reach and trust.

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