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Telecom Italia regarding TIM Participações S.A

01/23/2009 - 07:59 PM

Telecom Italia informs, also following CONSOB request, that the Brazilian entity TIM Participações S.A., indirectly controlled by Telecom Italia, received  a notice from the Comissão de Valores Mobiliários (the Brasilian stock exchange authority) stating that Telco S.p.A., the company participated by Mediobanca S.p.A., Sintonia S.A., Intesa San Paolo S.p.A., Assicurazioni Generali S.p.A. and Telefonica S.A. which owns 24.5% of Telecom Italia's ordinary share capital, “being the purchaser of the indirect control of TIM Participações S.A., is obliged to launch a Public Tender Offer in favour of the minority shareholders of TIM Participações S.A., as per article 254-A of the Brazilian law n. 6.404/76".

Telecom Italia highlights that as a result of that notice no obligation is imposed to Telecom Italia and that it has promptly transmitted the same notice to Telco S.p.A.

Rome, January 23, 2009