Telecom Italia: Vicenza Financial Police investigation dates back to 2007

07/01/2010 - 04:30 PM

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Issue concerned Fiscal Years prior to 2008, as disclosed in the 2008 and 2009 annual reports, and ceased to be a problem following the introduction of new sales polices that year.

Company has cooperated fully with the investigation

In regard to news in today’s media about an investigation by the Vicenza Financial Police into irregular SIM cards, Telecom Italia is keen to point out that this investigation was initially launched in 2007 by the Vicenza Public Prosecutors Office, as disclosed in the reports on operations that were part of the 2008 and 2009 annual financial statements.

In its response to the appeal against an administrative penalty, the investigating magistrates acknowledged that since 2008 the company has undertaken “a drastic change of direction promoted by the company’s current CEO (who took up his position in December 2007)”, which has had the effect “of considerably reducing the phenomenon.” The investigating team went on to acknowledge that the company had collaborated fully with the investigation, “indicating a desire to cast light on the issue.”

Rome, 1 July 2010