Asset management giant BlackRock (BLK) has upped its stake in major Italian telecommunications company, Telecom Italia (TIMB), pumping it to 5.1%, according to a regulatory document seen by Reuters. The American company initially held about 4.98% in the Rome-based company.
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BlackRock is a long-time investor in Telecom Italia. As of late 2013, the multinational investment company had a 7.8% voting stake in the telecoms group. Some of the other top investors in the Italian company include The Vanguard Group (VGK), Norges Bank Investment Management, and Dimensional Funds Advisors LP.
BlackRock Makes Strategic Moves
The latest update follows a series of strategic moves from BlackRock. For instance, the asset manager has joined hands with Flexport, a tech-driven global freight forwarder and logistics platform. The partnership is geared toward increasing the financing pool for the supply chain industry to $250 million.
Additional supply chain financing became critical as the volatile tariff regime of President Donald Trump has led to a hike in operational costs for American retailers and manufacturers. The fund, which is to be provided by BlackRock, will be managed by Flexport Capital, the logistics provider’s financing unit.
Furthermore, BlackRock, alongside Swiss container shipping firm Mediterranean Shipping Company, is also gunning for a $23 billion Panama multi-port acquisition deal. However, this transaction with the Hong Kong-based conglomerate CK Hutchison (CKHUF) has been delayed until 2026.
These moves come as BlackRock’s assets recently soared past $12 trillion, elevated by record-high stock prices in the U.S. The peak made the investment firm the world’s first $12 trillion money manager.
Meanwhile, BlackRock is also planning to float its own retirement fund next year. This follows Trump’s order instructing regulators to broaden access to alternative assets, such as crypto and hedge funds, under 401(k), the tax-friendly retirement savings plan.
BlackRock helped lobby the presidency for the move. However, experts have criticized Trump’s order as risky for ordinary investors who may lack the appropriate knowledge.
Is BLK a Good Stock to Buy?
Turning to Wall Street, BlackRock’s shares have a Strong Buy recommendation based on 12 Buys and one Hold by analysts. The average BLK price is $1,176, which is a 4.75% potential upswing from the current price.
