State-backed financial conglomerate Poste Italiane 
PST has decided to buy the stake in Telecom Italia (TIM) 
TIT held by state lender Cassa Depositi e Prestiti (CDP), it said in a statement on Saturday.
In offloading its 9.8% TIM shareholding to Poste, CDP will buy Poste’s 3.78% stake in Italian payments group Nexi 
NEXI.
Poste offers phone services through its Poste Mobile unit.
“The operation represents an investment of a strategic nature, with the aim of creating synergies between the companies and favouring, with all the players involved, the consolidation of the telecommunications market in Italy,” Poste said in a statement.