Telecom Italia is undervalued with fixed problems.
Telecom Italia (TI) was undervalued due to past leverage and governance problems, which have now been fixed by the new CEO. The market has regained confidence, and a full acquisition by Poste Italiane would unlock strategic synergies, particularly in merging TI's technology and enterprise client base with Poste's platform and customer relationships for the long-term transition to cloud, cybersecurity, and AI services.