Telecom Italia: Clarification on the financial structure of the new companies and the mobile business activities in Italy and abroad

09/12/2006 - 00:00 PM

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Telecom Italia wishes to clarify that that no decision has yet been taken regarding the financial structure of the companies into which, as announced to the market, the mobile business and that of the fixed access network will be conferred.

With regard to the mobile business, Italian and foreign (Brazil), the Company repeats that it has not given any mandate for its sale and that it has not received any offers.

As announced to the market yesterday, the Board of Directors of Telecom Italia will examine any opportunities of value enhancement for the network and mobile communication business that might present themselves, as well as all other and different initiatives as a function of the operating needs and sustainable development of the company.

Milan, 12 September 2006