Poste Italiane Now Runs Telecom Italia, and Deals Could Follow
Telecom Italia was privatized nearly 30 years ago.
Photographer: Francesca Volpi/BloombergThis article is for subscribers only.
After a decade under French control, Telecom Italia SpA now has an Italian state-backed group as its top investor — and it’s one that wants to foster mergers and acquisitions in the telecoms market.
Postal service Poste Italiane SpA this weekend became the phone company’s biggest shareholder with a holding of nearly 25%, after purchasing the majority of a stake held by French media conglomerate Vivendi SE. Poste says the deal will support industry consolidation.