Statement from Marco Tronchetti Provera

Marco Tronchetti Provera, Chairman of Pirelli and Telecom Italia, released the following statement today:

"In relation to persisting rumors in the market and in the press, in order to safeguard the market I would like to confirm that the shortening of the ownership chain remains a priority.

As underlined many times publicly, such reorganization is complex and several financial institutions develop proposals. For the time being nothing has been decided. Obviously the market will be informed immediately of any decision relating to this or any other operation that could be of interest to the market."

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