As resolved by the Board of Directors of Poste Italiane at its meeting on November 12, 2025, the company exercised its option right to purchase a 49 percent stake in the share capital of PagoPA offered by the Ministry of Economy and Finance.
The remaining 51 percent of PagoPA’s share capital, in accordance with the same legislation, will be acquired by the Istituto Poligrafico e Zecca dello Stato.
The transaction is subject to the approval of the Italian Competition Authority, which will be promptly notified in compliance with regulations on merger control.
PagoPA operates key technology platforms that drive the digital transformation of Italy’s Public Administration and delivers advanced solutions for the country, serving as a vital link between citizens, private enterprises and the Public Administration.
This transaction is designed to create value for both Italy and Poste by accelerating the digital transformation process and enhancing the overall citizen experience.
This operation is in addition to the one involving TIM.
On December 11, 2025, Poste Italiane formalized the acquisition of Vivendi‘s final stake in TIM, increasing its shareholding to 27.32 percent of ordinary shares.
This purchase exceeded the 25 percent threshold that would typically trigger a mandatory Public Tender Offer (PTO).
However, Poste Italiane officially declared its intention to use an exemption provided by the regulations, which usually applies when the acquisition occurs for rescue purposes, corporate reorganization, or in the presence of other controlling shareholders. (Sergio Scialabba)
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