Leonardo and Poste Italiane Target Control of Italy’s National Cloud Company
Reshaping the Ownership of Italy's National Strategic Hub
By Elvira Pollina and Giuseppe Fonte
Leonardo’s Move to Increase Its Stake
MILAN/ROME, July 6 (Reuters) - Italian defence group Leonardo is preparing to increase its stake in the company that manages cloud services for Italy's public administration by acquiring an additional 10% from state-owned IT company Sogei, sources told Reuters.
Leonardo, which already owns 25% of the so-called National Strategic Hub (PSN), would raise its stake to 35% in a deal that could be announced by the end of this month, two sources familiar with the matter said.
The Importance of PSN in Italy’s Digital Transformation
PSN is central to Italy's cloud migration programme backed by about €2 billion ($2.3 billion) from the European Union's post-pandemic Recovery Fund, which aims to move sensitive public sector data and services on to secure cloud infrastructure.
Sogei carried its stake in the cloud venture at just €7 million on its balance sheet, according to its 2025 financial statements.
Shareholder Reshuffle and Poste Italiane’s Ambitions
Strategic Rationale Behind the Changes
Although small in size, the transaction is part of a broader reshuffle of PSN's shareholder structure aimed at placing the company under the control of two shareholders with a clear industrial rationale, one of the sources said.
Poste Italiane’s Growing Role
Italian state-backed conglomerate Poste Italiane will acquire a 20% stake in PSN from state lender CDP, Poste's Chief Executive Matteo Del Fante said earlier this year.
Takeover Bid for TIM and Future Plans
Longer term, Poste is targeting 65% of the cloud company, given that it has launched a takeover bid for TIM, currently the cloud hub's largest shareholder with a 45% stake.
The overhaul would pave the way for the exit of shareholders that joined the cloud project as financial partners or without specific expertise in the sector, the person added.
Governance and Future Developments
As part of the reshuffle, discussions are also under way over the future governance of the company.
Under the scenario currently being discussed, Poste would appoint the chief executive while Leonardo would nominate the chairperson, the sources said.
Responses from Stakeholders
Leonardo, Poste and TIM declined to comment. CDP and Sogei were not immediately available to comment.
($1 = 0.8752 euros)
(Reporting by Elvira Pollina in MIlan and Giuseppe Fonte in RomeEditing by Keith Weir)
