Telecom Italia : TIM reiterates that there was no obligation to notify

In relation to the ruling by the Golden Power Committee, TIM reiterates that, in its opinion, there was no obligation to notify in that the Company never resolved on nor implemented any act or operation which may have changed ownership, control or availability of the electronic communication network subject to the law on golden power: the network always stayed in TIM's full ownership, control and availability.

Under this point of view, it's not relevant the alleged acquisition by Vivendi of TIM's control, irrespective of the autonomous considerations made on the existence of the same and it is useful to remember that no burden of giving notification is foreseen for transferring control to an European party.

Furthermore, TIM informs that up to date no fine was imposed by the Italian Government. Any eventual measure will be taken only after the closing of the administrative procedure started in this regard with yesterday's decision.

The Company, in keeping with its interests, will continue to assert its arguments before the competent courts, certain that it has acted in compliance with the laws.

Rome, 29 September 2017