Telecom Italia board leans toward endorsing Poste Italiane's $12.4B offer
Telecom Italia's board accepted a cash and stock takeover bid from Poste Italiane, valuing the deal at around €13 billion. The offer includes €1.67 in cash and 0.218 Poste shares per Telecom Italia share. Poste already owns about 20% of Telecom Italia.