Telecom Italia falls on Monday after Poste Italiane’s bid ended with an ownership stake of 85.82 percent, below the 90 percent required for delisting.
In total, 65.72 percent of the shares were tendered in the offer. For each share tendered during the reopened period, shareholders receive 0.218 newly issued Poste shares and 1.97 euros in cash. Settlement date is October 2.
