Latest news with #PosteItaliane
Bloomberg
20-05-2025
- Business
- Bloomberg
Poste Italiane Could Be Partner for Digital Euro, Cipollone Says
Poste Italiane SpA could help introduce the digital euro to Italy, according to European Central Bank Executive Board member Piero Cipollone. The ECB is looking for partners to carry the project over 'the last mile' of implementation once it has been set up, Cipollone said, speaking at an online ASviS event.
Reuters
07-05-2025
- Business
- Reuters
Telecom Italia first-quarter core profit up 5.4%, debt rises
Summary Companies Profit after lease costs 815 mln euros vs forecast 821 mln Debt edges up to 7.5 bln euros from 7.3 bln at end-December Company confirms financial targets MILAN, May 7 (Reuters) - Telecom Italia ( opens new tab posted on Wednesday a 5.4% rise in first-quarter core earnings, slightly below expectations, as debt edged higher and cash flow was negative. Earnings before interest, taxes, depreciation and amortisation after lease costs at Italy's biggest telecoms group rose to 815 million euros ($926 million), against analysts' consensus forecast of 821 million euros in a company poll. Debt after lease costs was 7.5 billion euros at the end of March, up from 7.3 billion euros at Dec. 31, while equity free cash flow was a negative 198 million euros, weighed down by some deferred payments from the previous quarter and in line with analyst expectations. The company posted a 124-million-euro net loss in the period, down from a 400-million-euro loss in the same period last year, and confirmed financial targets provided in February, including the return to cash generation this year. TIM, the heir to Italy's phone monopoly, is set to return to state-backed hands with financial conglomerate Poste Italiane ( opens new tab replacing France's Vivendi ( opens new tab as its single largest investor with a 24.8% stake. Having sold its prized landline network last year, in a move aimed at slashing debt, TIM is expected to play a role in the long-awaited consolidation of Italy's telecoms sector, which has been under pressure for years amid stiff price competition. ($1 = 0.8799 euros)
Yahoo
23-04-2025
- Business
- Yahoo
Italy's state-owned payments firm PagoPA sale hits valuation dispute
Italy's state-owned payments firm PagoPA has encountered disagreements over its valuation in the planned sale to the state mint and postal operator Poste Italiane, reported Reuters. The transfer of PagoPA would keep it under state-controlled entities, with Poste Italiane acquiring a minority stake in the company. State-backed Poste Italiane has diversified its operations, branching out from its traditional mail and parcel services into payments, broadband, and energy sectors. Poste Italiane and the state mint have raised concerns about a €500m valuation of Treasury-owned PagoPA, set by Treasury adviser KPMG, the report said citing sources. The state mint and Poste Italiane have reviewed PagoPA's financial data to assess whether its business plan justifies the proposed valuation, the report added. The parties involved either declined to comment or were not immediately available for comment to Reuters. PagoPA processed €33bn in public administration payments so far this year. It is expected to play a central role in the Italian government's plan to develop a digital wallet through the IO app. The app allows users to store official documents, including digital identity credentials, and make payments for public services. Last year, Italy's Treasury appointed KPMG to conduct a valuation of PagoPA. The company's electronic payment system allows citizens and businesses to pay public bodies through a standardised process, using both online and offline channels via participating payment service providers. "Italy's state-owned payments firm PagoPA sale hits valuation dispute " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Bloomberg
29-03-2025
- Business
- Bloomberg
Italy's Poste Raises Telecom Italia Stake to Nearly 25%
Italy's state-run postal service raised its stake in Telecom Italia SpA to almost 25%, overtaking Vivendi SE as the phone carrier's biggest investor. Poste Italiane, which has owned about 10% of Telecom Italia, purchased an additional holding of 15% from Vivendi for €684 million, according to a statement. The deal allows Poste to stay below a threshold that would trigger a mandatory takeover offer under Italian regulations.
Reuters
05-03-2025
- Business
- Reuters
Italy halts Poste stake sale as post office shifts focus to TIM revamp
Summary Companies Italy had planned to sell 14.3% of Poste Italiane Share placement plan triggered widespread resistance Poste to play leading role in setting TIM strategy Full-board reshuffle among Poste's options for TIM ROME, March 5 (Reuters) - Italy has shelved for now the sale of a stake in Poste Italiane ( opens new tab while the national post office focuses its attention on how to revamp Telecom Italia ( opens new tab (TIM), two people with knowledge of the matter told Reuters on Wednesday. State-backed financial conglomerate Poste last month became TIM's second largest shareholder by acquiring a 9.8% stake from state lender Cassa Depositi e Prestiti (CDP), in a move backed by leading officials in Prime Minister Giorgia Meloni's office. With TIM's top management at odds with the phone group's main shareholder, French media group Vivendi ( opens new tab, Poste is expected to play a leading role in setting the strategy for TIM, the sources said, asking not to be named. Facing a series of corporate headaches, the government has decided to put on hold long-mooted plans to sell up to 14% of Poste, the sources added, missing out on up to 2.9 billion euros ($3.1 billion) in proceeds from a sale. In an effort to rein in Italy's massive public debt through asset sales, the government last year approved measures allowing the Treasury to sell part of its 29.3% stake in Poste. When including a 35% Poste stake held via CDP, the state would have retained more than 50% of Poste. The share placement was supposed to be launched immediately after Poste's 2024 fourth-quarter results last month, which saw the group raise investor payouts and set better than forecast 2025 profit goals. The decision to put on hold the sale also reflects widespread resistance across ruling and opposition parties as well as trade unions to a loosening of the state's grip on Poste, the sources said. Its 119,000 employees make Poste one of Italy's biggest employers. TIM BOARD RESHUFFLE? Poste, which could look to raise its 9.8% stake in TIM in the next few months, wants at least one representative on the nine-strong TIM board and may also push for a reshuffle of the phone group's entire board, another two people separately said. Both TIM and Poste declined to comment. The former phone monopoly last year became the first telecom incumbent in a major European country to opt for a full separation of its fixed-line network, which it sold to a consortium led by U.S. fund KKR (KKR.N), opens new tab. The grid sale was opposed by Vivendi, which is challenging the move in court and has signalled it is open to selling its TIM stake. By postponing its annual general meeting (AGM) to June 24 from April 10, referencing changes in its shareholder base, TIM has given Poste time to ponder its next moves. Poste runs a business that lends itself to commercial partnerships with TIM and it also offers phone services through its Poste Mobile arm. ($1 = 0.9310 euros)
