Poste Italiane's takeover bid for TIM to be launched July 20

(ANSA) - ROME, JUL 16 - State-controlled postal company Poste Italiane said Thursday that it will launch its 10.8-billion-euro cash‑and‑share takeover bid for Italian telecommunications group TIM on July 20 after stock-market regulator CONSOB approved the documentation of its offer for the former monopoly operator. The offer will end on September 11. It is offering 0.167 euros in cash and 0.0218 newly issued Poste shares for each TIM share tendered Poste Italiane, which has strong banking, in...

By ANSA