Telecom Italia, in the light of the continual and repeated dissemination by the press of information that is untrue and misleading in relation to the Group’s financial situation and the hypothesis that the network might be hived off, states that it will take every action, as it recently has, to protect the company and shareholders. In particular, it has called upon CONSOB, the Italian market Authority, to prevent the continuing dissemination of news reports which could cause serious market disturbance.
With regard to the hiving off of the fixed-line network, Telecom Italia wishes to underline that this hypothesis has never had the least echo at the government level, among Italian Authorities or at the European Commission level.
Such an initiative could not be realized if not with the agreement of the company, which legitimately owns the network, and which, it should be recalled, operates in a free market under licence and not through government concession.
Milan, 8 August 2006