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Shareholders' Structure

05/21/2020 - 10:00 AM

Shareholders' Structure as of March 31, 2020

Telecom Italia’s shareholders mainly consists of retail investors (over 480,000 according to the Shareholders’ Register).

Telecom Italia’s shareholders at 31 March 2020 on the basis of the Shareholders’
Register, notifications received and other available information (ordinary shares).

Cassa Depositi e Prestiti (1)9.89%
Paul Elliott Singer (2)


Telecom Italia Group
Italian institutional investors
Foreign institutional investors
Other shareholders

(1) Resulting from participation in the Telecom Italia Shareholders’ Meeting of 29 March 2019 and reconfirmed in the Shareholders’ Meeting of 23 April 2020.

(2) On April 30, 2020 Paul E. Singer disclosed to Consob and to the Company, pursuant to art. 120 of Legislative Decree n. 58 of February 24, 1998, a reduction on 28 April 2020 of the indirect shareholding with voting rights held in TIM from 6.976% to 0.265%; effective 12 May 2020 a further reduction of the shareholding to 0.136% was disclosed. In both disclosures Paul E. Singer disclosed, pursuant to art. 119 of the Consob Issuers’ Regulation, a long postion through the signing by the funds Elliott International L.P. and Elliott Associates L.P of cash-settled equity swap contracts with JP Morgan which expire on May 30, 2023 and which are equal to 4.862% of the ordinary share capital of TIM. The aggregrate shareholding initially equal to 5.127% of the ordinary share capital of TIM was reduced to 4.998% on 12 May 2020.

The significant shareholdings in compliance with law are available on this website at the following page: Significant Shareholdings.

The update at 30 June 2020 will be available when the First Half 2020 Report at 30 June 2020 is published.