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Poste CEO says TIM Brasil not strategic under Telecom Italia's new course

By Reuters News

MILAN, Oct 27 (Reuters) - Poste Italiane PST.MI does not consider the Brazilian business TIMS3.SA of Telecom Italia TLIT.MI, the former phone monopoly which the postal service operator has taken over, as strategic, CEO Matteo Del Fante said on Tuesday.

Poste, a state-backed financial conglomerate, owns 87% of Telecom Italia (TIM), having recently increased its stake with a buyout offer as part of a plan to create a national champion in digital services.

Speaking at an economic conference in Rome, Del Fante said the TIM acquisition would allow Poste to provide digital transformation services to businesses, making the most of well-established TIM's relations with its corporate clients.

TIM Brasil is a profitable asset but not essential to the plan Poste is pursuing with its TIM takeover, Del Fante said, signalling Poste may be willing to consider a potential divestment.

"We'll use it tactically over the course of the coming months," Del Fante said, without elaborating further.

Del Fante is due to present a new business plan for the combined TIM-Poste entity in the first quarter of 2027.

TIM owns about 68% of TIM Brasil TIMS3.SA, its only foreign subsidiary. The unit accounts for almost half of the group's core earnings and generates cash.

At current market prices, the TIM Brasil is stake worth around 31.8 billion Brazilian reais (€5.30 billion).

(1 euro = 5.9945 reais)

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