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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
(Amendment No. 56)
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TELECOM ITALIA S.P.A.
(Name of Issuer)
ORDINARY SHARES OF EURO 0.55 PAR VALUE EACH 87927W10
(Title of class of securities) (CUSIP number)
ALEXANDER ROSENZWEIG, ESQ.
VICE PRESIDENT AND CHIEF LEGAL OFFICER
PIRELLI NORTH AMERICA, INC.
75 FIFTH STREET,
SUITE 320-321
ATLANTA, GEORGIA 30308
(404) 920-0744
WITH A COPY TO:
ELLEN J. ODONER, ESQ.
WEIL, GOTSHAL & MANGES LLP
767 FIFTH AVENUE
NEW YORK, NEW YORK 10153
(212) 310-8000
(Name, address and telephone number of person authorized
to receive notices and communications)
OCTOBER 5, 2007
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check
the following box [_].
Note: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits.
See Rule 13d-7 for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 7 Pages)
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CUSIP No. 87927W10 13D Page 2 of 6
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1 NAME OF REPORTING PERSON PIRELLI & C. S.p.A.
I.R.S. IDENTIFICATION NO. Not Applicable
OF ABOVE PERSON
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A (a) [X]
GROUP: (b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: BK, WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: Italy
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7 SOLE VOTING POWER: 182,113,185
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NUMBER OF 8 SHARED VOTING POWER: 2,407,345,359
SHARES (See Item 5)
BENEFICIALLY ----------- ------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER: 182,113,185
EACH
REPORTING ----------- ------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE 2,407,345,359
POWER: (See Item 5)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED 2,589,458,544
BY REPORTING PERSON:
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 19.35%
(11):
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14 TYPE OF REPORTING PERSON: CO
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CUSIP No. 87927W10 13D Page 3 of 6
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1 NAME OF REPORTING PERSON OLIMPIA S.p.A.
I.R.S. IDENTIFICATION NO. Not Applicable
OF ABOVE PERSON
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A (a) [X]
GROUP: (b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: Italy
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7 SOLE VOTING POWER: 0
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NUMBER OF 8 SHARED VOTING POWER: 2,407,345,359
SHARES (See Item 5)
BENEFICIALLY ----------- ------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER: 0
EACH
REPORTING ----------- ------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE 2,407,345,359
POWER: (See Item 5)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED 2,407,345,359
BY REPORTING PERSON: (See Item 5)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 17.99%
(11): (See Item 5)
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14 TYPE OF REPORTING PERSON: CO
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This Amendment No. 56 amends the Statement on Schedule 13D, dated
August 9, 2001, as amended (as previously amended, the "Statement on Schedule
13D"), filed by Pirelli S.p.A. (which, as reported in Amendment No. 21 to the
Statement on Schedule 13D, subsequently merged with and into Pirelli & C.
S.p.A., a company incorporated under the laws of the Republic of Italy)
("PIRELLI"), and, commencing with Amendment No. 1 thereto, Olimpia S.p.A.
("OLIMPIA"), a company incorporated under the laws of the Republic of Italy,
with respect to the ordinary shares, euro 0.55 par value per share, of Telecom
Italia S.p.A., a company incorporated under the laws of the Republic of Italy.
Capitalized terms used in this Amendment without definition have the meanings
ascribed to them in the Statement on Schedule 13D.
Pirelli, Olimpia, Sintonia S.p.A. (which, it publicly announced on
March 9, 2007, has replaced Edizione Holding in various shareholders agreements
relating to Olimpia) and Sintonia S.A. (which, according to Sintonia S.p.A.'s
public announcement, is the new name of Edizione Finance) are members of a group
with respect to the Telecom Italia Shares. This Amendment constitutes a separate
filing on Schedule 13D by Pirelli and Olimpia in accordance with Rule
13d-1(k)(2) under the Securities Exchange Act of 1934. Pirelli and Olimpia are
responsible solely for the information contained in their separate filing,
except that information contained in the Statement on Schedule 13D concerning
any director or officer of Olimpia nominated by Sintonia S.p.A., its predecessor
Edizione Holding or Sintonia S.A. has been provided by the nominating person or
by such nominee director or officer.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Reference is made to the bond loan "Olimpia S.p.A. 1.5% 2001-2007," described in
item 3 of Amendment No. 4 to the Statement on Schedule 13 D (the "Bond Loan").
On October 5, 2007, Olimpia redeemed the residual bonds issued under the Bond
Loan in full by delivery of 331,501 shares of Telecom Italia S.p.A. The shares
were purchased by Olimpia on October 2, 2007, for a purchase price of
approximately EUR 715,000.
ITEM 4. PURPOSE OF TRANSACTION
The information contained in Item 3 above is incorporated herein by reference.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
The information contained in Item 3 above is incorporated herein by reference.
Reference is made to the equity swap transaction entered into between Olimpia
and Caboto Holding SIM S.p.A. now Banca Caboto ("Caboto") described in item 5 of
Amendment No. 7 to the Statement on Schedule 13D (the "Equity Swap Agreement").
On October 5, 2007, the Equity Swap Agreement terminated and Olimpia paid Caboto
approximately EUR 49 million as a result of such termination.
Page 4 of 7 Pages
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
Reference is made to the Revolving Credit Facility, dated as of December
22, 2005, entered into among Olimpia and Interbanca S.p.a. and Banca
Antoniana Popolare Veneta S.p.A. (as Lenders), described in item 7 of
Amendment No. 38. On October 5, 2007, Olimpia pledged an additional
16,764,594 ordinary shares of the Company to the Lenders pursuant to the
Revolving Credit Facility.
Reference is made to the Financing Agreement, dated as June 28, 2005, entered
into between Olimpia and Banca Monte dei Paschi di Siena S.p.A. (as Lender),
described in item 7 of Amendment No. 36. On October 5, 2007, Olimpia pledged an
additional 125,302,915 ordinary shares of the Company to the Lender pursuant to
the Financing Agreement.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
116. Press Release, dated as of October 5, 2007, issued by Olimpia
S.p.A.
Page 5 of 7 Pages
SIGNATURES
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certify that the information set forth in this
statement is true, complete and correct.
Date: October 11, 2007
PIRELLI & C. S.p.A.
By: /s/
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Name:
Title:
OLIMPIA S.p.A.
By: /s/
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Name:
Title:
Page 6 of 7 Pages
EXHIBIT INDEX
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Exhibit No.
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116. Press Release, dated as of October 5, 2007, issued by Olimpia S.p.A.
Page 7 of 7 Pages