Milan, April 27, 2007 – Further to yesterday’s press release about the company’s investments in Bolivia, Telecom Italia announces that it has notified the Italian government and the European Commission of its concerns regarding decisions taken by the Bolivian government.
The Italian government and the European Commission have already notified the Bolivian government, in the absence of guarantees of a fair and reliable business environment, of their concerns regarding risks to investments by Italian and European firms. The Italian government and the European Commission consider the protection and safeguard of Italian and Community company investments in Bolivia to be one of its prime objectives.
Concerns about Telecom Italia’s Bolivian investments have also been raised by the European Parliament, and by business organizations in Italy and in Europe.
Further, it is confirmed that ETI, a company wholly-owned by Telecom Italia, is reviewing the full range of actions it may pursue in order to protect its investments in Entel Bolivia, including the start of arbitration proceedings in compliance with international treaties for the safeguard of investments by foreign firms in Bolivia.