Telecom Italia: provisional results of the voluntary partial cash tender offer for TIM ordinary shares and of the voluntary cash tender offer for all TIM savings shares

01/21/2005 - 09:45 PM

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Telecom Italia announces that the acceptance period for the voluntary partial tender offer for TIM ordinary shares and the voluntary tender for all TIM savings shares ended today at 5:40 PM.

The provisional Offer results received from the intermediaries engaged to coordinate the collection of acceptances are as follows: 2,639,179,970 ordinary shares (corresponding to approximately 31.3% of TIM's ordinary share capital and approximately 107.4% of the ordinary shares subject to the offer), and 8,454,877 savings shares (corresponding to approximately 6.4% of TIM's savings share capital and therefore of the savings shares subject to the offer).

As stated in the Offer Document, the final results of the offer shall be announced in a notice published no later than the day before the scheduled payment date of the consideration for shares tendered and accepted, and therefore no later than January 27, 2005. These data will be disclosed to the market in a press release as soon as they become available.

Telecom Italia's financial advisors for the Offer are JPMorgan Chase Bank and MCC S.p.A. – Capitalia Banking Group. Other advisors to Telecom Italia in relation to the offer are Banca Intesa S.p.A. and UniCredit Banca Mobiliare S.p.A.

Banca Caboto S.p.A. (Intesa Group), MCC – Capitalia Banking Group and Unicredit Banca Mobiliare S.p.A. acted as intermediaries engaged to coordinate the collection of acceptances. 

Milan, January 21, 2005