Italy’s government approved a strategic stake swap between national postal service Poste Italiane and state lender Cassa Depositi e Prestiti (CDP), increasing domestic influence over Telecom Italia (TIM). 

Poste will acquire CDP’s 9.8% stake in TIM, becoming its second-largest shareholder after French media group Vivendi. In exchange, Poste will transfer its 3.78% stake in Italian payments group Nexi and an undisclosed cash sum.

Poste expects the transaction to enhance synergies for its Post Mobile service, Italy’s largest mobile virtual network operator, and could pave the way for closer integration with its payments arm, Postepay. The company emphasized that the move aligns with its strategy to support the consolidation of Italy’s telecommunications sector.

The deal comes amid heightened foreign interest in TIM, with private equity firm CVC Capital Partners previously expressing acquisition interest. France’s Iliad Group, owner of rival Iliad Italia, has also been linked to potential merger discussions. The Italian government, wary of foreign influence over strategic assets, has signaled it will block transactions that threaten national control. Prime Minister Giorgia Meloni’s administration is prepared to exercise its ‘golden powers’ to veto deals deemed counter to Italy’s interests.

By positioning Poste as a key stakeholder, the government reinforces its commitment to keeping TIM under domestic oversight, reducing reliance on foreign investors while strengthening the company’s role in Italy’s telecom landscape.