Telecom Italia board endorses Poste Italiane's EUR10.8bn takeover bid

Telecom Italia's board has endorsed a roughly EUR10.8 billion takeover bid from Poste Italiane as fair, Bloomberg reported on Saturday, with Reuters separately confirming the board's backing of the offer (Bloomberg: https://news.google.com/rss/articles/CBMiwwFBVV95cUxOcHI5Q21BN1MtdGVsMU45SjRRS2V2QlNSX1lDWEJVRXBOeDNVekJLRDBvMXhwXzdNendmeVZIX3lGS0QyN2JFQnVselVGLXZQWU80QTBiLXZQRldhaGF5bDlBSFd6aXY0U3pUb2JwQVVLWmxUZUFSYVYxVmJSWDV0azJkTzVKV0hlODBmODBDS2EyaHRvVXBKcDZtMlxXbDF3MzhENjNpdkduOHJfajFzU2wzaUdZcVM2d1d3ZzdfYzU4dTA?oc=5).

The state-controlled postal and financial-services group's approach targets Italy's largest telecommunications company, whose nationwide network is treated as strategic infrastructure by Rome. A successful deal would place one of the country's most important connectivity assets under a bidder anchored in domestic ownership.

The move fits a wider European effort to consolidate strategically important industries at home — echoing the EU's recently signalled plans to help its banks build scale to compete with larger US rivals. For markets, the transaction is a significant test of whether European governments can marshal national champions to retain control of critical infrastructure.

Details of the bid's exact structure and any regulatory or shareholder approvals were not fully set out in the reports, and the board's endorsement is an early step rather than a completed transaction.

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