================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
(Amendment No. 25)
------------------------------
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.
246 STONERIDGE DRIVE
SUITE 400
COLUMBIA, SOUTH CAROLINA 29210
(803) 951-1040
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)
NOVEMBER 13, 2003
(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 6 Pages)
================================================================================
----------------------------------------------------------------------- ---------------------------------------------
CUSIP No. 87927W10 13D Page 2 of 6
----------------------------------------------------------------------- ---------------------------------------------
---------------------------- -------------------------------------------------------- ------------------------------------------
1 NAME OF REPORTING PERSON PIRELLI & C. S.p.A.
I.R.S. IDENTIFICATION NO. Not Applicable
OF ABOVE PERSON
---------------------------- --------------------------------------------------------------------------------------------- -----
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
---------------------------- --------------------------------------------------------------------------------------------- -----
3 SEC USE ONLY
---------------------------- ---------------------------------------------------------------------------- ----------------------
4 SOURCE OF FUNDS: BK, WC
---------------------------- ---------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
---------------------------- ---------------------------------------------------------------------------- ----------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Italy
---------------------------- --- ---------------------- ------------------------------------------------------------------------
7 SOLE VOTING POWER: 0
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------
---------------------- ------------------------------------------------------------------------
8 SHARED VOTING POWER: 1,457,015,823
(See Item 5)
----------------------------
---------------------- ------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER: 0
----------------------------
---------------------- ------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER: 1,457,015,823
(See Item 5)
----------------------------
---------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,457,015,823
(See Item 5)
---------------------------------------------------------------------------------------------------
----------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [ ]
---------------------------------------------------------------------------------------------------
----------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 14.16%
(See Item 5)
---------------------------- --------------------------------------------------------------- -----------------------------------
14 TYPE OF REPORTING PERSON: CO
2
---------------------------------------------------------------------- ----------------------------------------------
CUSIP No. 87927W10 13D Page 3 of 6
----------------------------------------------------------------------- ---------------------------------------------
---------------------------- -------------------------------------------------------- ------------------------------------------
1 NAME OF REPORTING PERSON Olimpia S.p.A.
I.R.S. IDENTIFICATION NO. Not Applicable
OF ABOVE PERSON
---------------------------- --------------------------------------------------------------------------------------------- -----
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
---------------------------- --------------------------------------------------------------------------------------------- -----
3 SEC USE ONLY
---------------------------- ---------------------------------------------------------------------------- ----------------------
4 SOURCE OF FUNDS: WC
---------------------------- ---------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
---------------------------- ---------------------------------------------------------------------------- ----------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Italy
---------------------------- --- ---------------------- ------------------------------------------------- ----------------------
7 SOLE VOTING POWER: 0
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------
---------------------- ------------------------------------------------- ----------------------
8 SHARED VOTING POWER: See Item 5
----------------------------
---------------------- ------------------------------------------------- ----------------------
9 SOLE DISPOSITIVE POWER: 0
----------------------------
---------------------- ------------------------------------------------- ----------------------
10 SHARED DISPOSITIVE POWER: See Item 5
----------------------------
---------------------------------------------------------------------------- ----------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: See Item 5
---------------------------------------------------------------------------- ----------------------
----------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:
---------------------------------------------------------------------------------------------------
----------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): See Item 5
---------------------------- --------------------------------------------------------------- -----------------------------------
14 TYPE OF REPORTING PERSON: CO
3
This Amendment No. 25 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, Hopa,
UCI and BCI 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, Hopa, UCI or BCI has been provided by the
nominating person or by such nominee director or officer.
ITEM 4. PURPOSE OF TRANSACTIONS
-----------------------
On November 13, 2003, a general shareholders' meeting of Olimpia
approved an increase in Olimpia's share capital of up to euro 770 million. Euro
700 million of the capital increase will be used to purchase approximately
295,000,000 Telecom Italia Shares on December 18, 2003 at a price per share of
euro 2.37 (as result of which, Olimpia's proportional holding of the total
number of Telecom Italia Shares outstanding will increase from 14.16% to
17.02%). Such Telecom Italia Shares will be purchased from Mediobanca pursuant
to an agreement entered into by Olimpia and Mediobanca on November 5, 2003. A
copy of a press release issued by Olimpia concerning the capital increase and
the proposed acquisition of Telecom Italia Shares is filed as Exhibit 57.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
---------------------------------------------------------------------
TO SECURITIES OF THE ISSUER
---------------------------
The information contained in Item 4 above with respect to the
agreement between Olimpia and Mediobanca is incorporated herein by reference.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
--------------------------------
57. Press release of Olimpia, dated as of November 13, 2003.
4
EXHIBIT INDEX
-------------
Exhibit No.
-----------
57. Press release of Olimpia, dated as of November 13, 2003.
5
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: November 17, 2003
PIRELLI & C. S.p.A.
By: /s/ Giovanna Magrini
----------------------------------------
Name: Giovanna Magrini
Title: Attorney-in-fact
OLIMPIA S.p.A.
By: /s/ Luciano Gobbi
----------------------------------------
Name: Luciano Gobbi
Title: Director and Attorney-in-fact
6