Poste Italiane has become the indirect controlling shareholder of TIM Brasil after completing the acquisition of control of Telecom Italia (TIM), the Italian telecommunications group that controls the Brazilian operator.
On September 18, 2026, Poste completed payment for the shares tendered in its public cash-and-share offer for Telecom Italia. Final results released on September 15 showed that Poste would hold 1,422,972,712 Telecom Italia shares, equivalent to 66.627% of the company’s share capital.
In a material filing on the same day, TIM Brasil said that Poste’s acquisition of control of Telecom Italia consequently made the Italian group its indirect controlling shareholder.
What happened
Before launching the offer, Poste Italiane already held 20.104% of Telecom Italia. The completed transaction gave it a controlling stake in the company, with the initial tendered shares transferred on the scheduled payment date of September 18.
The change occurs at the shareholder level of Telecom Italia rather than through a direct acquisition of TIM Brasil. Telecom Italia remains the relevant company in TIM Brasil’s ownership chain, while Poste Italiane is now its controlling shareholder.
TIM Brasil’s disclosure formally communicated the resulting change in indirect control to the Brazilian market.
Why it matters
The transaction links TIM Brasil’s ultimate control more directly to Poste Italiane, a European group that has taken control of Telecom Italia through the public offer. For investors and other market participants, the development is relevant because control changes at a parent company can affect the ownership structure of listed subsidiaries.
The confirmed event is a change in TIM Brasil’s indirect controlling shareholder. It does not, on the information disclosed, establish a change in the company’s direct parent.
For readers outside Brazil, the deal also illustrates how changes in ownership of a European telecommunications group can have consequences for operations and corporate governance structures in Latin America, where Telecom Italia holds its Brazilian telecom business.
By the numbers
- 66.627%: Telecom Italia share capital held by Poste Italiane following the offer’s final result.
- 1,422,972,712: Telecom Italia shares attributed to Poste under the final results.
- 20.104%: Poste Italiane’s stake in Telecom Italia before the offer.
- September 18, 2026: scheduled payment date, when the initially tendered shares were transferred to Poste.
The bigger picture
The completion of the offer establishes Poste Italiane as the controller of Telecom Italia and, through that relationship, the indirect controller of TIM Brasil. The disclosure from TIM Brasil places the Brazilian company within the ownership consequences of a transaction completed in Italy.
The development is a corporate-control event rather than a disclosed change to TIM Brasil’s day-to-day operations. The verified disclosures do not set out operational plans for the Brazilian company, nor do they specify any changes to its direct parent.
What happens next
The offer acceptance period is due to reopen from September 21 through September 25, 2026, with payment for shares accepted during that period scheduled for October 2.
That reopening could increase Poste Italiane’s stake above the confirmed 66.627%. It does not change the control transition already disclosed by TIM Brasil following the September 18 settlement.