Telecom Italia Media: composition of the Control and Risk Committee supplemented and Council of State provisional decision on fourth frequency

05/28/2015 - 04:45 PM

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The meeting of the Board of Directors of Telecom Italia Media, chaired by Severino Salvemini, acknowledged the resignation of Ms. Paola Schwizer (independent) from the office of Member of the Board of Directors.

Taking into account that the resigning Director held the position of Chairwoman of the Control and Risk Committee, the Board of Directors proceeded to supplement the Committee by appointing Director Chiara Della Penna.

The Control and Risk Committee, which at the first possible meeting will proceed to appoint its Chairperson, therefore comprises Directors Massimo Bergami, Chiara Della Penna and Lorenzo Gorgoni, all possessing the requirements of independence pursuant to the Consolidated Law on Financial Intermediation and the Corporate Governance Code of Borsa Italiana.

The Board of Directors also examined the issues of the progress of the court proceedings regarding the failure to assign Telecom Italia Media Broadcasting S.r.l. (now Persidera S.p.A.) the fourth frequency in the process of converting the networks from analogue to digital, started by the Company with its appeal for the reform of the Lazio Administrative Court judgement, still pending before the Council of State, also in the light of the partial judgement issued on 6 May 2015 in which the exceptions on non-receivability, ineligibility and inadmissibility presented by the opposing parties in the proceedings were rejected.

The Board will continue to carefully monitor the development of the proceedings in the interest of the Company and all its shareholders, awaiting the hearing, set for 2 July 2015, to evaluate the effects of the related decision also connected to the process for the merger by incorporation of the Company into Telecom Italia S.p.A..

Milan, 28 May 2015