TIT — TELECOM ITALIA BOARD ENDORSES STATE-BACKED POSTE ITALIANE'S €13BN TAKEOVER OFFER

The board of Telecom Italia has approved a takeover bid from state-controlled Poste Italiane, paving the way for the postal service to gain full control of the telecommunications group. The cash-and-stock deal, valued at approximately €13 billion, offers €1.67 in cash plus 0.218 Poste shares for each Telecom Italia share. The move, which follows Poste's acquisition of a 20% stake, marks a significant consolidation in the Italian market and reflects a broader trend of deal-making across the European telecoms sector.