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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
(Amendment No. 26)
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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.
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)
DECEMBER 18, 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 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
-------------------- ----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
-------------------- ----------------------------------------------------------------------------------------------------------
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):
[ ]
-------------------- ----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Italy
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7 SOLE VOTING POWER: 0
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------- -------------------------------------------------------------------------------
8 SHARED VOTING POWER: 1,751,765,823
(See Item 5)
---------------------- -------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER: 0
---------------------- -------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER: 1,751,765,823
(See Item 5)
-------------------- ----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,751,765,823
(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): 17.01%
(See Item 5)
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14 TYPE OF REPORTING PERSON: CO
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2
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CUSIP No. 87927W10 13D Page 2 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
-------------------- ----------------------------------------------------------------------------------------------------------
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. 26 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 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERATION
Reference is made to Item 4 of Amendment No. 25 to the Statement on
Schedule 13D. On December 18, 2003, Olimpia purchased 294,750,000 Telecom Italia
Shares from Mediobanca at a price per share of euro 2.37 pursuant to the
agreement entered into by Olimpia and Mediobanca on November 5, 2003. Olimpia
obtained the purchase price from capital contributed by its shareholders, as
reported in Item 4 of Amendment No. 25 to the Statement on Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
After giving effect to the acquisition of the 294,750,000 Telecom
Italia Shares referred to in Item 3, Olimpia holds 1,751,765,823 Telecom Italia
Shares, representing approximately 17.01% of the total number of outstanding
Telecom Italia Shares.
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). On
December 16, 2003, Pirelli, UCI and Banca Intesa entered into an agreement to
amend the New Partners Agreement (the "New Partners Agreement Amendment").
Pursuant to the New Partners Agreement Amendment, each of UCI and Banca Intesa
agrees to fully subscribe for its proportional share of Olimpia Shares in
connection with the capital increase described in Item 4 of Amendment No. 25 to
the Statement on Schedule 13D (such shares, the "New Shares"). In addition, the
New Partners Agreement Amendment modifies in certain respects the manner in
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which the purchase price to be paid by Pirelli for the New Shares is to be
determined in the event that any such shares are transferred to Pirelli pursuant
to the New Partners Agreement. A copy of the New Partners Agreement Amendment is
filed as Exhibit 58 and a copy of a joint press release issued by Pirelli, UCI
and Banca Intesa concerning the New Partners Agreement Amendment is filed as
Exhibit 59.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
58. New Partners Agreement Amendment [English translation].
59. Joint press release of Pirelli, UCI and Banca Intesa Olimpia, dated
as of December 18, 2003 [English translation].
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EXHIBIT INDEX
Exhibit No.
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58. New Partners Agreement Amendment [English translation].
59. Joint press release of Pirelli, UCI and Banca Intesa Olimpia, dated
as of December 18, 2003 [English translation].
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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: December 22, 2003
PIRELLI & C. S.p.A.
By: /s/ Giovanna Magrini
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Name: Giovanna Magrini
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
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