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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
(Amendment No. 43)
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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)
AUGUST 14, 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 5 Pages)
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CUSIP No. 87927W10 13D Page 2 of 5
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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) [_]
(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): [_]
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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 -------- ----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 182,113,185
REPORTING
PERSON WITH -------- ----------------------------------------------------
10 SHARED DISPOSITIVE POWER: 2,407,345,359
(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: [_]
-------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 19.35%
-------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
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CUSIP No. 87927W10 13D Page 3 of 5
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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) [_]
(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
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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 -------- ----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
PERSON WITH -------- ----------------------------------------------------
10 SHARED DISPOSITIVE POWER: 2,407,345,359
(See Item 5)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
2,407,345,359
(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): 17.99%
(See Item 5)
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14 TYPE OF REPORTING PERSON: CO
This Amendment No. 43 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, 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 and Edizione Finance, 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 the Share Forward Agreement (as that term is
defined in Item 5 of Amendment No. 41 to the Statement on Schedule 13D). On
August 14, 2006, Pirelli Finance (Luxembourg) S.A. ("PFL"), a wholly-owned
subsidiary of Pirelli & C., purchased 134,957,885 Telecom Italia Shares from
Banca Caboto S.p.A. ("Caboto") for an aggregate cash purchase price of
(euro)312,013,048 pursuant to the Share Forward Agreement, thereby terminating,
and settling the respective obligations of the parties under, such agreement.
PFL obtained the purchase price from its own available cash resources.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
The information contained in Item 3 above is incorporated herein by
reference. The acquisition by PFL of 134,957,885 Telecom Italia Shares as
described in Item 3 above does not result in any change to the number of Telecom
Italia Shares beneficially owned by Pirelli & C. As described in Item 5 of
Amendment No. 41 to the Statement on Schedule 13D, such shares were deemed to be
beneficially owned by Pirelli & C. on the date on which the Share Forward
Agreement was entered into.
Page 4 of 5 Pages
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: August 29, 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 5 of 5 Pages