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Significant Shareholdings

06/22/2020 - 10:00 AM

This page shows information on significant equity holdings in Telecom Italia ordinary shares. 

The following table shows the major equity holdings (over 3%) in Telecom Italia ordinary shares according to information in the Shareholders’ Register, the notifications made to Consob and the Company pursuant to Art. 120 of Legislative Decree 58 of 24 February 1998, and other information available. (*)

   Subject Type of shareholding No. of ordinary shares % of ordinary share capital (1)
Vivendi S.A.Direct3,640,109,990 23.943
Cassa Depositi e Prestiti S.p.A.Direct1,503,750,0009.891 (**)
Canada Pension Plan Investment BoardDirect/Indirect500,829,4083.294(***)

(*) Through resolution no. 21326 of  9 April 2020 (which revoked and replaced the previous resolution no. 21304 of 17 March 2020), Consob established that, pursuant to article 120, paragraph 2-bis of the Consolidated Finance Act ("TUF), for a period of three months starting from 11 April 2020 - and subject to early revocation - when the additional threshold of 1% is exceeded, the investee company and Consob must be informed according to article 120, paragraph 2 of the Consolidated Finance Act. Pursuant to the disclosures made in compliance with the above mentioned resolutions, Consob published the following direct share ownerships:

  •  Norges Bank 1.053%  - 8 June 2020 transaction date
  • Partners Telecom Sarl 2.987%  – 18 March 2020 transaction date

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

(***) Canada Pension Plan Investment Board participated in the Telecom Italia Shareholders’ Meeting of 23 April 2020 with a direct shareholding equal to 3.268% of the ordinary share capital. On the basis of a disclosure of major shareholdings made to CONSOB and the Company, pursuant to Art.120 of Legislative Decree 58/1998, the controlled company CPPIB May Cayman SPC holds a further 0.026% of the ordinary share capital.


Notes

On 30 April 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 30 May 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.

Shareholdings of Telecom Italia ordinary shares held by Telecom Italia S.p.A. itself and by Telecom Italia's subsidiaries

Company No. of ordinary shares % of ordinary share capital (1) 
Telecom Italia S.p.A. 35,179,7090.231%
Telecom Italia Finance S.A.126,082,3740.829%

(1) The percentages refers to the total number of ordinary shares which constitute Telecom Italia's share capital, as results from the most recent filing made at the Company Register, at the date of the present updating.