The statement included in an article of the Sole 24 Ore relative to market rumours regarding the conversion plan is groundless

02/19/2001 - 00:00 PM

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Telecom Italia declares that the statement, included in an article of the Sole 24 Ore on Saturday, February 17, entitled "Telecom non cambia il piano rnc. Cecchi Gori contro SEAT per Tmc" (Telecom does not change the Savers plan. Cecchi Gori against SEAT for Telemontecarlo), relative to market rumours according to which, "managers of a few funds have been approached by exponents of Telecom Italia to probe their willingness to adhere to the conversion plan if the cash consideration to be paid were to be reduced from the currently proposed 48% of the price of the ordinary share to 40%", is groundless.