Telecom Italia announces that today it acquired 21 million TIM savings shares through the exercise of call options purchased on December 21, 2004 and at the same time communicated to the market. The transaction price was equal to €5.5562 per share.
Following the exercise of these options, Telecom Italia owns 29,463,127 TIM savings shares (including the shares acquired through the cash tender offer for all TIM savings shares that closed on January 21), corresponding to approximately 22.3% of this class of share.
A further 37 million TIM savings shares were also received today upon execution of the stock lending agreements announced to the market in the press release issued on January 23.
The TIM savings shareholding therefore now stands at 66,463,127 shares, corresponding to approximately 50.3% of this class of share.
Milan, February 3, 2005