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COMMUNICATIONS: Poste Italiane TITIM Stake Announcement Could Come Saturday

COMMUNICATIONS
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Article notes that Meloni has “fended off” CVC interest in Vivendi’s stake which is a positive given the sensitivity TITIM has shown. Most lines have already pared widening to within 10bp of last Thursday levels though the 1.625% 29s are still 20bp wider.

  • BBG sources reporting that a deal to swap state lender CDP’s 10% TITIM stake for Poste Italiane’s 4% Nexi stake could be announced on Saturday. Headlines earlier in the week had alluded to such a swap. Cash adjustment required.
  • “Poste’s board will review the plan on Saturday and is expected to announce a decision that day.”
  • “Meloni’s government earlier this week fended off an offer by CVC to buy a stake in Telecom Italia held by Vivendi SA…The purchase could have paved the way for a merger with Iliad.”
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Article notes that Meloni has “fended off” CVC interest in Vivendi’s stake which is a positive given the sensitivity TITIM has shown. Most lines have already pared widening to within 10bp of last Thursday levels though the 1.625% 29s are still 20bp wider.

  • BBG sources reporting that a deal to swap state lender CDP’s 10% TITIM stake for Poste Italiane’s 4% Nexi stake could be announced on Saturday. Headlines earlier in the week had alluded to such a swap. Cash adjustment required.
  • “Poste’s board will review the plan on Saturday and is expected to announce a decision that day.”
  • “Meloni’s government earlier this week fended off an offer by CVC to buy a stake in Telecom Italia held by Vivendi SA…The purchase could have paved the way for a merger with Iliad.”