Information notice on the request made by the common representative of the savings shareholders

08/18/2015 - 07:00 PM

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Telecom Italia Media announces that the Common Representative of the savings shareholders has requested, in a writ served, that the resolution on the merger by incorporation of Telecom Italia Media S.p.A. into Telecom Italia S.p.A., taken by the Shareholders' Meeting on 30 April 2015, be cancelled, and, subordinately, for compensation of the presumed financial losses caused to the savings shareholder by the aforementioned operation, quantified - at the date of the writ - as totalling approximately 4.4 million euros.

Said Common Representative also asked that the shareholders be informed that "while remaining at the disposal of the Board of Directors to consider any putative settlement based on adequate and convincing legal motivations, he would not neglect any possibility of protecting the shareholders he represents".

In acknowledging the judicial initiative and the aforementioned announcement, the Company, for its part, would state that - as already stated in the communication to the market dated 30 July 2015 - the Board of Directors has already reviewed and rejected a settlement proposal received from the Common Representative, based on the same arguments as are used as the basis of the writ. Therefore, in its unchanged conviction that the operation does not damage the rights of the category, that the related terms are fair to all Telecom Italia Media shareholders and that the behaviour of the Company is entirely correct and in compliance with applicable laws, the Company will institute the necessary defence in the opportune judicial proceedings.

Rome, 18 August 2015