Telecom Italia S.p.A. announces that it has purchased the maximum number of treasury shares authorized by the Shareholders’ Meeting on 14 April 2008, concluding the second tranche of the buy-back Plan announced on 8 August 2008 in service of the stock option plan reserved for the Executive Directors of Telecom Italia S.p.A. (cf. the Prospectus published on 28 March 2008, updated on 16 April 2008).
The 11,400,000 ordinary shares in Telecom Italia S.p.A. were purchased through an intermediary on the regulated Italian electronic share market MTA, operated by Borsa Italiana, in accordance with the “Rules of the Markets Organized and Managed by Borsa Italiana S.p.A.” and the associated instructions, as detailed in the following table:
The purchase volumes did not exceed 25% of the average daily volume of shares of Telecom Italia S.p.A. traded on the Mercato Telematico Azionario, calculated according to the daily average volume of trades during the 20 days of trading preceding the date of purchase.
The price per share was between a minimum and maximum corresponding to the weighted average of the official prices of the shares being purchased recorded by Borsa Italiana S.p.A. during the last ten days of trading prior to the date of purchase, decreased or increased by 10%, respectively. Financial coverage of the entire buy-back plan (for a total value of €10,592,055,00, plus commissions) did not require recourse to additional gross financial debt.
The transactions summarized above completed the authorization to buy back treasury shares granted by resolution of the Shareholders’ Meeting on 14 April 2008, the expiration date for which was set on 14 October 2009. This document should therefore be considered notice pursuant to article 144-bis of the Rules for Issuers.
When the Plan was announced (8 August 2008), Telecom Italia S.p.A. held 1,272,014 ordinary treasury shares (corresponding to 0.01% of the share class). At the conclusion of the first tranche of the Plan, as announced on 26 September 2008, it held 26,272,014 (corresponding to 0.20% of the share class); as a result of these operations and at the conclusion of the second and final tranche of the Plan, it now holds 37,672,041 (corresponding to 0.28% of the share class). The Luxembourg-based Telecom Italia Finance S.A., fully owned by Telecom Italia S.p.A., holds a further 124,544,373 ordinary shares in the Parent Company (corresponding to 0.93% of the share class).