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BackTim: Labriola and the top management join the Poste Italiane takeover bid

Tim: Labriola and the top management join the Poste Italiane takeover bid

Developing

ANSA Economia56 minutes agoBusiness1 min readItaly

Tim: Labriola and the top management join the Poste Italiane takeover bid

Quick Look

Tim's CEO Pietro Labriola and the managers have joined the Poste Italiane takeover bid.
The offer, deemed appropriate by the board of directors, will close on Friday unless extended.
Membership at 5.5% at the end of last week.

AI-generated summary

Why It Matters

Tim's board of directors deemed the consideration for the public purchase and exchange offer of Poste Italiane to be appropriate.

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Tim's CEO, Pietro Labriola, and the managers with strategic responsibilities tendered the shares held in the Poste Italiane takeover bid.

As already communicated to the market last July 18, we read in a note, the consideration for the offer was deemed adequate from a financial point of view by the Tim board of directors, who positively assessed its rationale and industrial prospects. Top management membership closed last week and details relating to individual transactions will be made public through internal dealing communications.

Unless extended, the Post Office takeover bid for Tim will close next Friday. At the end of last week, subscriptions amounted to just under 5.5% of the instruments being offered.

What to Watch

AI outlook — possibilities, not facts

Poste Italiane's takeover bid for Tim will close next Friday unless extended.
Very likely · Within days

Open Questions

What will be the final takeover rate for the takeover bid?
Will there be extensions for closing the offer?

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This article was originally published by ANSA Economia.

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