European Event-Driven Analyst

Jesus Rodriguez Aguilar

Jesús is an Insight Provider (Event-driven) on the Smartkarma network, where he looks across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations. He has served as Economic and Business Advisor at the Spanish Congress in Madrid. Prior to that, he has worked in the City of London: as a Credit Analyst at Bloomberg; Event-driven associate at former boutique European Research; and doubled as Special Situations and Equity-linked VP (convertible bonds) at Merrill Lynch. Jesús has an MBA from the London Business School, a BA (Hons.) degree in Economics from the Complutense University in Madrid, and a BA (Hons.) in Law from U.N.E.D., also in Madrid.

Liquid Universe of European Ordinary and Preferred Shares: April '26 Report

Liquid Universe of European Ordinary and Preferred Shares: May '26 Report

Liquid Universe of European Ordinary and Preferred Shares: June '26 Report

KKR Potential Offer for The (W)Hole of Telecom Italia

KKR/Telecom Italia: Open Fiber Deal, Ongoing Restructuring, Strategies

Event-Driven

<ul>
<li>Poste’s €10.8bn cash-and-share offer for TIM leaves no meaningful arbitrage spread, with shares trading at parity to deal value and implying full completion plus residual optionality.</li>
<li>Conversion of savings shares raises execution complexity, requiring 58.53% minority acceptance; while achievable, this introduces coordination risk and modest potential for a sweetener if participation stalls.</li>
<li>With arbitrage carry effectively zero, the opportunity shifts to Poste, where post-announcement weakness may offer entry into a strategically attractive, synergy-driven consolidation at undemanding valuation.</li>
</ul>


Poste’s €10.8bn cash-and-share offer for TIM leaves no meaningful arbitrage spread, with shares trading at parity to deal value and implying full completion plus residual optionality.
Conversion of savings shares raises execution complexity, requiring 58.53% minority acceptance; while achievable, this introduces coordination risk and modest potential for a sweetener if participation stalls.
With arbitrage carry effectively zero, the opportunity shifts to Poste, where post-announcement weakness may offer entry into a strategically attractive, synergy-driven consolidation at undemanding valuation.


Poste–TIM: A Done Deal in Pricing, Not Yet in Votes

Telecom Italia SPA

Poste–TIM: A Done Deal in Pricing, Not Yet in Votes