(Alliance News) - Poste Italiane Spa announced Thursday that it has approved the plan for the merger by incorporation of Address Software Srl, whose share capital is wholly and directly held by Poste Italiane itself.

"The operation is aimed at standardizing, evolving and engineering the processes of operation of the group's technology platforms as well as streamlining and rationalizing the operational structure; this is also in order to achieve a reduction in the characteristic costs of each corporate structure as well as to realize the consequent improvement of the group's economic results," the company explained in a note.

On Thursday, Poste Italiane closed down 0.4 percent at EUR10.27 per share.

By Claudia Cavaliere, Alliance News reporter

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