We make reference to the press release issued today by Telecom Italia with respect to the communication given by the Comissao de Valores Mobiliarios to its subsidiary TINI Participacoes S .A. which refers to a potential mandatory tender offer to be launched by Telco in favour of minority shareholders of TIM Participacoes accordingly with Brazilian law. At Consob request, Telco:
- confirms it has received such communication by Telecom Italia S.p.A.;
- clarifies that it has not received any such communication by Commissao de Valores Mobiliarios nor any further information or material in this respect;
- considers ungrounded the supposed mandatory tender offer.
Telco, in close consultation with its legal advisors, reserves the right to take all measures it will deem appropriate.