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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
(Amendment No. 44)
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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 4, 2006
(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 7
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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 GROUP: (a) [X]
(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
NUMBER OF
SHARES ------------------- --------------------------------------------------------------------------------
8 SHARED VOTING POWER: 2,407,345,359
BENEFICIALLY (See Item 5)
OWNED BY ------------------- --------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER: 182,113,185
EACH
REPORTING ------------------- --------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER: 2,407,345,359
PERSON WITH (See Item 5)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 2,589,458,544
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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 (11): 19.35%
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14 TYPE OF REPORTING PERSON: CO
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CUSIP No. 87927W10 13D Page 3 of 7
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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 GROUP: (a) [X]
(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
NUMBER OF
SHARES ------------------- --------------------------------------------------------------------------------
8 SHARED VOTING POWER: 2,407,345,359
BENEFICIALLY (See Item 5)
OWNED BY ------------------- --------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER: 0
EACH
REPORTING ------------------- --------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER: 2,407,345,359
PERSON WITH (See Item 5)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 2,407,345,359
(See Item 5)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------------ --------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 17.99%
(See Item 5)
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14 TYPE OF REPORTING PERSON: CO
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This Amendment No. 44 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), and,
commencing with Amendment No. 1 thereto, Olimpia S.p.A., 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 & C., Olimpia, Edizione Holding and 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 & C. and Olimpia in
accordance with Rule 13d-1(k)(2) under the Securities Exchange Act of 1934.
Pirelli & C. 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 Edizione
Holding or Edizione Finance has been provided by the nominating person or by
such nominee director or officer.
ITEM 2. IDENTITY AND BACKGROUND
On October 4, 2006, each of Mr. Corrado Passera and Mr. Alessandro
Profumo resigned as directors of Olimpia.
On September 12, 2006, Mr. Alberto Bombassei became a director of
Pirelli & C. Mr. Bombassei's present principal occupation is chairman of Brembo
S.p.A. and his business address is Via Gaetano Negri 10- Milan 21123, Italy. Mr.
Bombassei is an Italian citizen.
During the past five years, to the knowledge of Pirelli & C. and
Olimpia, Mr. Bombassei has not been (i) convicted in any criminal proceeding
(excluding traffic violations or similar misdemeanors) or (ii) a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
as a result of which he was or is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activity subject to,
federal or state securities laws or finding any violation with respect to such
laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERATION
The information contained in Item 6 below is incorporated herein by
reference. On October 4, 2006, Pirelli & C. purchased from each of UCI and BCI
certain shares of Olimpia representing, in aggregate, 9.54% of Olimpia's total
issued and outstanding share capital for an aggregate purchase price of
approximately (euro)1,170,000,000. Pirelli & C. obtained the purchase price from
its own available cash resources, including existing lines of credit.
Page 4 of 7
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
The information contained in Item 6 below is incorporated herein by
reference.
Ms. Giulia Ligresti, a director of Pirelli & C., has informed Pirelli &
C. that her husband purchased 465 Telecom Italia Shares on July 7, 2006 at a
price per share of (euro)2.1925. The transaction was effected over the Italian
Stock Exchange.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
Reference is made to the New Partners Agreement (as that term is
defined in Item 3 of Amendment No. 2 to the Statement on Schedule 13D) and to
the information relating thereto reported in Amendment No. 40 to the Statement
on Schedule 13D. On October 4, 2006, Pirelli & C. purchased all of UCI's and
BCI's respective 4.77% stakes in Olimpia, in each case for a purchase price of
approximately (euro)585,000,000. After giving effect to those transactions,
Pirelli & C. holds 80% of the total share capital of Olimpia. The remaining 20%
of Olimpia's share capital is held by Edizione Finance (together with Edizione
Holding). On October 4, 2006, Pirelli & C. issued a press release concerning the
transactions described above in this Item 6, a copy of which is filed as Exhibit
102.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
102. Press Release, dated as of October 4, 2006, issued by Pirelli & C.
Page 5 of 7
EXHIBIT INDEX
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Exhibit No.
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102. Press Release, dated as of October 4, 2006, issued by Pirelli & C.
Page 6 of 7
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 6, 2006
PIRELLI & C. S.p.A.
By: /s/ Anna Chiara Svelto
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Name: Anna Chiara Svelto
Title: Attorney-in-fact
OLIMPIA S.p.A.
By: /s/ Luciano Gobbi
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Name: Luciano Gobbi
Title: Director and Attorney-in-fact
Page 7 of 7