Poste Italiane SpA (MIL:PST)
€ 13.475 -0.07 (-0.52%) Market Cap: 17.44 Bil Enterprise Value: -11.23 Bil PE Ratio: 8.78 PB Ratio: 1.46 GF Score: 59/100
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Poste Italiane SpA Consolidating the Italian Postal Network Call Transcript

Nov 16, 2020 / 05:00PM GMT
Release Date Price: €8.61 (+1.29%)
Operator

Good afternoon. Welcome and thank you for joining Poste Italiane: Consolidating the Italian Mail Market Conference Call. (Operator Instructions)

At this time, I would like to turn the conference over to Mr. Matteo Del Fante, Chief Executive Officer and General Manager of Poste Italiane. Please go ahead, sir.

Matteo Del Fante
Poste Italiane SpA - CEO, GM & Director

Good afternoon and thanks for joining us. Here with me, the CFO, Guido Nola; the Head of the Logistic Massimo Rosini; and Massimiliano Riggi, Investor Relations.

As you know, last week we published our third quarter and we confirmed mail declined as a trend. Indeed, the trend is more pressing in Italy where e-substitution has been faster than other countries in Europe, and the lockdown made it even heavier.

Today, we're pleased to announce a transaction that aims to tackle the trend and to ensure the long-term sustainability of the national postal service in Italy. Yesterday night, we signed a preliminary agreement to acquire Nexive, the second postal operator in

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