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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
(Amendment No. 21)
------------------------------
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)
AUGUST 4, 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 10 Pages)
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CUSIP No. 87927W10 13D Page 2 of 10
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1 NAME OF REPORTING PERSON PIRELLI & C. S.p.A.
I.R.S. IDENTIFICATION NO.OF Not Applicable
ABOVE PERSON
---------------------------- ---------------------------------------------------------------------------------------------------
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
---------------------------- --- ---------------------- ------------------------------------------------------------------------
7 SOLE VOTING POWER: 0
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------
---------------------- ------------------------------------------------------------------------
8 SHARED VOTING POWER: 1,190,715,823
(See Item 5)
----------------------------
---------------------- ------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER: 0
----------------------------
---------------------- ------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER: 1,190,715,823
(See Item 5)
----------------------------
---------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,190,715,823
(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): 11.58%
(See Item 5)
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14 TYPE OF REPORTING PERSON: CO
2
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CUSIP No. 87927W10 13D Page 3 of 10
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1 NAME OF REPORTING PERSON Olimpia S.p.A.
I.R.S. IDENTIFICATION NO. OF Not Applicable
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: [ ]
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----------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): See Item 5
---------------------------- ---------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
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This Amendment No. 21 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., a company incorporated under the laws of
the Republic of Italy ("Pirelli"), and, commencing with Amendment No. 1
thereto, Olimpia S.p.A., a company incorporated under the laws of the Republic
of Italy (the "Purchaser" or "Olimpia"), 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 2. IDENTITY AND BACKGROUND
The Pirelli Merger (as that term is defined in Amendment No. 16 to
the Statement on Schedule 13D) became effective on August 4, 2003, resulting in
the merger of each of Pirelli and Pirelli-Lux with and into Pirelli & C. A copy
of a joint press release concerning the Pirelli Merger issued by Pirelli & C.
and Pirelli on July 29, 2003 is filed as Exhibit 53. Information concerning the
proportional shareholdings of major shareholders of Pirelli & C. following the
consummation of the Pirelli Merger will be filed by amendment upon such
information being reported by Consob, the Italian securities regulatory
authority.
The name, business address, citizenship, present principal occupation
or employment (and name of any corporation or organization at which such
employment is conducted) of each director and executive officer of Pirelli & C.
are set forth on Schedule I. Additional information concerning the directors and
executive officers of Pirelli & C. that is required to be furnished on Schedule
13D has previously been reported in the Statement on Schedule 13D (and is
incorporated by reference herein) with respect to each of the persons identified
on Schedule I, except the following persons: Mr. Carlo Acutis, Mr. Gabriele
Galatieri di Genola, Ms. Giulia Maria Ligresti, Mr. Giovanni Perissinotto and
Mr. Maurizio Romiti (collectively, the "New Directors").
During the past five years, to the knowledge of the Pirelli & C. and
the Purchaser, none of the New Directors has 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 such person 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.
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ITEM 4. PURPOSE OF TRANSACTION
The Olivetti Merger (as that term is defined in Amendment No. 16 to
the Statement on Schedule 13D) became effective on August 4, 2003. A copy of a
joint press release concerning the Olivetti Merger issued by Olivetti and
Telecom Italia on July 29, 2003 is filed as Exhibit 54. The Olivetti Merger
resulted in the merger of Telecom Italia with and into Olivetti and the
surviving entity adopting the name Telecom Italia S.p.A. (The surviving entity
from the Olivetti Merger will henceforth be referred to in the Statement on
Schedule 13D as "Telecom Italia").
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Following the consummation (and as a result) of the Olivetti Merger,
Olimpia beneficially owns 1,190,715,823 ordinary shares of Telecom Italia,
representing approximately 11.575% of the total number of shares of that class
reported to be outstanding by Telecom Italia. By virtue of its ownership of
50.4% of the outstanding shares of capital stock of Olimpia, Pirelli & C. may be
deemed to beneficially own all shares of Telecom Italia beneficially owned by
Olimpia.
Based on information provided to Pirelli & C. prior to the
consummation of the Olivetti Merger: (i) Mr. Perissinotto, one of the New
Directors, beneficially owned 112,500 Olivetti Shares (representing less than
0.1% of the total number of shares of that class) and (ii) Ms. Giulia Maria
Ligresti, one of the New Directors, may be deemed to have beneficially owned
6,000 Olivetti Shares (representing less than 0.1% of the total number of
securities of that class) held of record by Ms. Ligresti's husband.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
53. Press release of Pirelli & C. S.p.A. and Pirelli S.p.A., dated as of
July 29, 2003.
54. Press release of Olivetti S.p.A. and Telecom Italia S.p.A., dated as
of July 29, 2003
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SIGNATURES
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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: August 12, 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
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EXHIBIT INDEX
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Exhibit No.
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53. Press release of Pirelli & C. S.p.A. and Pirelli S.p.A., dated as
of July 29, 2003.
54. Press release of Olivetti S.p.A. and Telecom Italia S.p.A., dated
as of July 29, 2003
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SCHEDULE I
DIRECTORS AND EXECUTIVE OFFICERS
--------------------------------
The business address of each person listed below is c/o Pirelli & C. S.p.A., Via
Gaetano Negri 1, 20123 Milan, Italy.
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POSITIONS WITH PRESENT PRINCIPAL OCCUPATION
NAME CITIZENSHIP PIRELLI S.P.A. ----------------------------
---- ----------- --------------
--------------------------------------- ----------------------- ------------------------------- ------------------------------------
Marco Tronchetti Provera Italian Chairman Chairman, Pirelli & C. S.p.A.;
Chairman, Telecom Italia.
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Alberto Pirelli Italian Deputy Chairman Deputy Chairman, Pirelli & C. S.p.A.
--------------------------------------- ----------------------- ------------------------------- ------------------------------------
Carlo Alessandro Puri Negri Italian Deputy Chairman Deputy Chairman, Pirelli & C. S.p.A.
--------------------------------------- ----------------------- ------------------------------- ------------------------------------
Carlo Buora Italian Managing Director Managing Director, Pirelli & C.
S.p.A.
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Giovanni Ferrario Italian Managing Director Managing Director, Pirelli & C.
S.p.A.
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Carlo Acutis Italian Director Chairman, BPC Investments SGR
S.p.A.; Deputy Chairman, Vittoria
Assicurazioni S.p.A.
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Gilberto Benetton Italian Director Chairman, Edizione Holding S.p.A.
(the parent of one of the other
shareholders of Olimpia); Chairman,
Ragione S.a.p.a. di Gilberto
Benetton e C.
--------------------------------------- ----------------------- ------------------------------- ------------------------------------
Carlo De Benedetti Italian Director Chief Operating Officer, De
Benedetti Group; Chairman and
Executive Chairman, Cofide S.p.A.,
CIR S.p.A., Sogefi S.p.A. and CDB
Web Tech Inv. S.p.A.
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Alberto Falck Italian Director Chairman, Falck S.p.A.
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Gabriele Galatieri di Genola Italian Director Chairman, Mediobanca-Banca di
Credito Finanziario S.p.A.
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Giuseppe Gazzoni Frascara Italian Director Entrepreneur
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Giuseppe Gazzoni Frascara Italian Director Entrepreneur
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POSITIONS WITH PRESENT PRINCIPAL OCCUPATION
NAME CITIZENSHIP PIRELLI S.P.A. ----------------------------
---- ----------- --------------
--------------------------------------- ----------------------- ------------------------------- ------------------------------------
Mario Greco Italian Director Executive Director and General
Manager, RAS S.p.A.
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Georg F. Krayer Swiss Director Chairman, Bank Sarasin & Co.
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Giulia Maria Ligresti Italian Director Chairman, Premafin Finanziaria
S.p.A.; Director and Member of the
Executive Committee, Fondiaria SAI
S.p.A.
--------------------------------------- ----------------------- ------------------------------- ------------------------------------
Massimo Moratti Italian Director Entrepreneur
--------------------------------------- ----------------------- ------------------------------- ------------------------------------
Luigi Orlando Italian Director Chairman, Generale Industrie
Metallurgiche S.p.A. and Societa
Metallugica Italiana S.p.A.; Deputy
Chairman, Aufsichtsrats Europa Metal
A.G. (Germany)
--------------------------------------- ----------------------- ------------------------------- ------------------------------------
Giovanni Perissinotto Italian Director Chairman, Generali Finances S.A.;
Chairman, Flandria Participation
Financieres; Chairman, Belgica
Insurance Holding; Chairman,
Generali Asset Management Sgr
S.p.A.; Chairman, Adriatica
Participation Finances S.A.;
Chairman, Banca Generali S.p.A.;
Chairman, Generali Properties S.p.A.
--------------------------------------- ----------------------- ------------------------------- ------------------------------------
Giampiero Pesenti Italian Director Chairman, Italmobiliare S.p.A.
--------------------------------------- ----------------------- ------------------------------- ------------------------------------
Ennio Presutti Italian Director Entrepreneur
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Maurizio Romiti Italian Director Managing Director, Rizzoli Corriere
Della Sera Mediagroup S.p.A.
--------------------------------------- ----------------------- ------------------------------- ------------------------------------
Vincenzo Sozzani Italian Director Chairman, PREMAFIN Finanziaria HP
S.p.A.
--------------------------------------- ----------------------- ------------------------------- ------------------------------------
Frank Vischer Swiss Director Professor, University of Basel,
Switzerland; Lawyer, the law firm
Vischer (Basel and Zurich)
--------------------------------------- ----------------------- ------------------------------- ------------------------------------
Claudio De Conto Italian Executive Officer Executive Officer, Pirelli & C.
S.p.A.
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POSITIONS WITH PRESENT PRINCIPAL OCCUPATION
NAME CITIZENSHIP PIRELLI S.P.A. ----------------------------
---- ----------- --------------
--------------------------------------- ----------------------- ------------------------------- ------------------------------------
Luciano Gobbi Italian Executive Officer Executive Officer, Pirelli & C.
S.p.A.
--------------------------------------- ----------------------- ------------------------------- ------------------------------------
Francesco Gori Italian Executive Officer, Tyres Executive Officer, Tyres Sector,
Sector Pirelli & C. S.p.A.
--------------------------------------- ----------------------- ------------------------------- ------------------------------------
Valerio Battista Italian Executive Officer, Energy Executive Officer, Energy Cables
Cables Sector Sector, Pirelli & C. S.p.A.
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