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🇮🇹 Italy /Economy & Trade

TIM CEO Labriola and senior managers accept Poste’s offer

From ANSA · () Italian

Translated from Italian and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement New plan
  • TIM CEO Pietro Labriola and strategically responsible managers tendered their shares in Poste Italiane's public exchange offer for TIM.
  • TIM's board had judged the offer financially fair and viewed its strategic rationale and industrial prospects positively.
  • The offer is scheduled to close next Friday unless extended, with acceptances at just under 5.5% of the securities covered at the end of last week.

TIM CEO Pietro Labriola and the company's strategically responsible managers have tendered their shares in Poste Italiane's public exchange offer for TIM.

TIM said in a notice that its board had already judged the consideration financially fair and evaluated the offer's strategic rationale and industrial prospects positively.

The top management's participation concluded last week. Details of the individual transactions will be disclosed through internal-dealing notices.

Unless the offer is extended, Poste's public exchange offer for TIM will close next Friday. Acceptances stood at just under 5.5 per cent of the securities covered by the offer at the end of last week.

About this summary

Originally published by ANSA in Italian. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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