Poste Italiane’s chief executive has defended the former postal monopoly’s €10bn bid for Telecom Italia after criticism that the deal would return the business to a state-backed national champion.
Poste last month offered to buy the telecoms group in a cash-and-share deal, having already amassed a 27.5 per cent stake that made it the largest shareholder.
Matteo Del Fante said Poste would be a good owner of Telecom Italia (TIM), which was privatised in 1997 and whose shares have more than doubled over the past year.
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