December 2005

December 2005
Restructuring of Internet activities

The plan, approved on April 4^th 2005, consists of a series of operations, in all meant to:

concentrate all the Group's Internet assets that are absorbed by Telecom Italia through the cash acquisition of Virgilio and Tin.it;
allow Telecom Italia Media to obtain sufficient financial resources from the sale both to buy back own shares and to make new investments in its media business, thus reinforcing the recognized position it already enjoys in the television market - with La7 and MTV - and taking advantage of the attractive growth prospects in digital terrestrial television;
encourage Telecom Italia Media to streamline its operating and corporate structure through the merger by incorporation of La7 Televisioni, which is currently wholly-held by HMC S.p.A., in its turn being a wholly-owned subsidiary of TI Media.

Timetable

4 April 2005	approval of the restructuring plan by TI Media BoD
19 April 2005	setting up of "Nuova Tin.it srl" as a wholly-owned TI Media subsidiary
20 May 2005	transfer of Tin.it business division to Nuova Tin.it srl
24 May 2005	TI Media General Shareholders' Meeting for the approval of the PTO for the buyback of its own shares
1 June 2005	cash acquisition of TI Media Internet assets (shares in Webfin, Matrix and "Nuova Tin.it srl") by Telecom Italia Wireline
6 - 24 June 2005	TI Media PTO for the buyback of its own shares for an amount of approximately Euro 148 million
end of December 2005	finalization of the TI Media-La7 Televisioni merger process
by half 2006	payout of extraordinary dividends for an amount of approximately Euro 550 million, following BoD's approval
2005-2007 period	further investments in TV and Media for an amount of approximately Euro 250 million

Documents

Notices

4 June 2005 - 3:00 PM - SaturdayPartial Public Tender Offer (available in Italian) (18 Kb)

24 May 2005 - 4:00 PM - TuesdayTransfer Service for the participation in the Meeting (available in Italian) (24 Kb)

24 May 2005 - 3:10 PM - TuesdayTelecom Italia Media Ordinary and Extraordinary Shareholders'Meeting Called (available in Italian) (46 Kb)

Press Releases

3 October 2005 - 2:55 PM - Monday
› Telecom Italia Media: Board passes resolution on La7 Televisioni merger with Telecom Italia Media

28 June 2005 - 6:52 PM - Tuesday
› Telecom Italia Media: Final results of Buyback on ordinary and savings shares

27 June 2005 - 8:46 PM - Wednesday
› Telecom Italia Media: voluntary partial tender offer on ordinary shares and the voluntary partial tender offer on savings shares is effective

22 June 2005 - 8:46 PM - Wednesday
› Telecom Italia increases 30-year euro bond issue by 250 million euro to replace a private placement of the same amount

1 June 2005 - 8:46 PM - Wednesday
› Telecom Italia: Acquisition of Virgilio and Tin.it from Telecom Italia Media finalized

1 June 2005 - 8:52 AM - Wednesday
› Telecom Italia Media: deed drawn up for the transfer of Tin.it unit to the new Tin.it Srl company (100% TI Media - Owned)

24 May 2005 - 3:15 PM - Tuesday
› Telecom Italia Media: resolution passed for a buyback of up to 10% of the company's ordinary and savings shares and a subsequent decrease of capital

20 May 2005 - 3:44 PM - Friday
› Telecom Italia Media: Restructuring of Internet activities continues

16 May 2005 - 8:21 PM - Monday
› Communication deposited with CONSOB stating intention to promote voluntary partial Public purchase Offer for up to 10% of Telecom Italia Media Ordinary Shares and voluntary partial Public purchase Offer for up to 10% of Telecom Italia Media Savings Shares

6 May 2005 - 6:14 PM - Friday
› Telecom Italia Media: The Board approves 1st Quarter Results 2005

18 April 2005 - 7:48 PM - Monday
› TELECOM ITALIA MEDIA: Shareholders' Meeting called

12 April 2005 - 5:25 PM - Tuesday
› Enrico Parazzini illustrates Telecom Italia Media's strategic objectives for the period 2005-2007 (following the restructuring of the Internet sector) to the Financial community

4 April 2005 - 8:02 PM - Monday
› Telecom Italia to absorb all Group Internet activities

Presentations

4 April 2005

Re-focus on Media (340 KB)