UKDefense & Geopolitical Fragmentation▲
Leonardo to raise stake in Italy's PSN cloud hub to 35% in broader reshuffle
Italian defence group Leonardo is preparing to increase its stake in the National Strategic Hub, which manages cloud services for Italy's public administration, by acquiring an additional 10% from state-owned IT company Sogei, sources told Reuters. The deal, which could be announced by the end of this month, would lift Leonardo's holding to 35% from 25%. The transaction is part of a broader shareholder overhaul aimed at placing the cloud company under the control of two shareholders with a clear industrial rationale, with Poste Italiane set to acquire a 20% stake from state lender CDP and eventually targeting 65% through its takeover bid for TIM, currently the largest shareholder with 45%. Under the reshuffle, Poste would appoint the chief executive while Leonardo would nominate the chairperson. PSN is central to Italy's cloud migration programme backed by about €2 billion from the European Union's post-pandemic Recovery Fund.
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0ONG.LSE · Capital · Positive Leonardo increases its stake in PSN to 35% and gains chairperson nomination, strengthening its role in Italy's cloud hub.
0RC2.LSE · Capital · Positive Poste Italiane acquires 20% stake from CDP and targets 65% via TIM takeover, gaining control of PSN with CEO appointment.
0H6I.LSE · Capital · Negative Poste Italiane's takeover bid for TIM is part of the reshuffle, reducing TIM's stake in PSN from 45% to potentially 0%, weakening its position.
Cassa Depositi e Prestiti S.p.A. · Capital · Negative CDP sells its 20% stake in PSN to Poste Italiane, reducing its influence in the cloud hub.
Sogei S.p.A. · Capital · Negative Sogei sells 10% of PSN to Leonardo, diluting its ownership and role in the hub.