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Telecom Italia Board Approves Poste Italiane €10.8 Billion Takeover Offer
Telecom Italia's board unanimously endorsed Poste Italiane's voluntary public tender and share exchange offer for all shares. The €10.8 billion bid values the company at $12.4 billion.
Jul 19, 3:29 AM·1m read3 sources
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Telecom Italia's board unanimously approved Poste Italiane's voluntary public tender and share exchange offer for all of the company's shares on Saturday. The board endorsed the €10.8 billion ($12.4 billion) takeover as financially fair. Poste Italiane became Telecom Italia's largest single shareholder last year with a 20% stake.
It launched a bid in March for the shares it does not already own. @financialjuice reported that Poste Italiane launched the voluntary public tender and share exchange offer for Telecom Italia shares.
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