28
January
2005
|
00:00
Europe/Amsterdam

Olimpia shareholders integrate 2003 agreements

JOINT PRESS RELEASE - PIRELLI & C. SPA, EDIZIONE FINANCE INTERNATIONAL SA, HOPA SPA, BANCA INTESA SPA E UNICREDITO ITALIANO SPA

OLIMPIA SHAREHOLDERS INTEGRATE 2003 AGREEMENTS
Shareholders could purchase Telecom Italia ordinary shares
Corporate governance will not change

Milan, 28 January 2005 - Olimpia SpA shareholders (Pirelli & C. SpA, Edizione Finance International SA, Hopa SpA, Banca Intesa SpA and Unicredito Italiano SpA) today signed an agreement which amends and supplements the agreement signed on 2003 among the same companies.
In particular, this integrative agreement allows shareholders to purchase Telecom Italia ordinary shares - but in order that the aggregate holding, when taking into account also shares already owned by Olimpia and by its shareholders, does not exceed a 30% participation in Telecom Italia ordinary share capital - as below:

 

  • Pirelli & C. SpA: 300 million shares
  • Edizione Finance International SA: 100 million shares
  • Hopa SpA: 100 million shares
  • Banca Intesa SpA: 100 million shares
  • Unicredito Italiano SpA: 100 million shares

    Olimpia shareholders also agreed to modify some terms of the agreement concerning the majority premium Hopa SpA would be granted in case Olimpia would de-merged. In particular, shareholders agreed an overall amount of Euro 208 million in case Olimpia would de-merged following a stale or agreements would not be renewed at their expiring date, i.e. 8 May 2006.



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