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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
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(Rule 13d-101)
(Amendment No. 8)
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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 13, 2001
(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)
NY2:\1106659\03\NPWJ03!.DOC\67793.0060
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CUSIP No. 87927W10 13D Page 2 of 7
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1 NAME OF REPORTING PERSON PIRELLI S.p.A.
I.R.S. IDENTIFICATION NO. Not Applicable
OF ABOVE PERSON
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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
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7 SOLE VOTING POWER: 0
NUMBER OF
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: 2,891,656,682
OWNED BY (See Item 5)
EACH ------------------- --------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER: 0
PERSON WITH
------------------- --------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER: 2,891,656,682
(See Item 5)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 2,891,656,682
(See Item 5)
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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): 54.96%
(See Item 5)
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14 TYPE OF REPORTING PERSON: CO
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CUSIP No. 87927W10 13D Page 3 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
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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: 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: 0
NUMBER OF
SHARES
------------------- --------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: See Item 5
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- --------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: See Item 5
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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
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14 TYPE OF REPORTING PERSON: CO
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This Amendment No. 8 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"), 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, the Purchaser, Edizione Holding, 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 and the Purchaser in
accordance with Rule 13d-1(k)(2) under the Securities Exchange Act of 1934.
Pirelli and the Purchaser 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 the Purchaser nominated by
Edizione Holding, UCI or BCI has been provided by the nominating person.
Item 3. Source and Amount of Funds or Other Consideration
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On November 22, 2001, 492,495,499 of the Olivetti Shares, and
492,495,501 of the Olivetti Convertible Bonds, that the Purchaser acquired
pursuant to the Olivetti rights offering were pledged with Banca di Roma as
security agent under the pledge agreement that was filed with Amendment No. 6 to
the Statement on Schedule 13D as Exhibit 24. As reported in Item 3 of Amendment
No. 6 to the Statement on Schedule 13D, the pledge agreement secures the
Purchaser's borrowings under the Revolving Facility Agreement (a copy of which
was filed with Amendment No. 6 to the Statement on Schedule 13D as Exhibit 23).
On November 27, 2001, Article I and paragraph 10(a) of the
instrument governing the bonds issued by the Purchaser to Bell on October 5,
2001 (a copy of which was filed with Amendment No. 4 to the Statement on
Schedule 13D as Exhibit 12) were amended to, among other things, provide a
formula for making anti-dilution adjustments to the number of Olivetti Shares to
be delivered to the bondholder upon retirement of the bonds. A copy of the
amended provisions is filed as Exhibit 32.
Item 5. Interest in Securities of the Issuer
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(a) As reported in Item 5(a) of Amendment No. 7 to the
Statement on Schedule 13D, after giving effect to the Purchaser's acquisition of
504,825,563 Olivetti Shares and 504,825,562 Olivetti Convertible Bonds pursuant
to the Olivetti rights offering, the Purchaser directly holds 2,524,127,813
Olivetti Shares, 504,825,562 Olivetti Convertible Bonds (each of which is
convertible into one Olivetti Share at any time during the period between
January 22, 2002 and December 15, 2009) and 68,409,125 Olivetti Warrants (each
of which may be exercised for 0.5 Olivetti Shares at any time until December 15,
2002). In addition, after giving effect to the transactions described in Item
5(c) of Amendment No. 7 to the Statement on Schedule 13D, the Purchaser has the
right to acquire a further 263,500,000 Olivetti Shares, and Pirelli has the
right to acquire a further 300,000,000 Olivetti Convertible Bonds or Olivetti
Shares. On December 13, 2001, Olivetti reported to the Companies Registry of
Turin that, as of that date, there were 8,783,701,564 Olivetti Shares issued and
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outstanding. The Purchaser's direct holding of 2,524,127,813 Olivetti Shares
represents 28.74% of the total number of Olivetti Shares reported to be
outstanding. This percentage assumes that the Purchaser has not converted any of
its Olivetti Convertible Bonds, exercised any of its Olivetti Warrants or
acquired any Olivetti Shares in connection with the transactions described Item
5(c) of Amendment No. 7 to the Statement on Schedule 13D.
Item 7. Material to be Filed as Exhibits
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32. Amended Article I and Paragraph 10(a) of the instrument
governing the bonds issued by the Purchaser to Bell on October 5, 2001 (a copy
of which was filed with Amendment No. 4 to the Statement on Schedule 13D as
Exhibit 12) [English translation]
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SIGNATURE
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After reasonable inquiry and to the best knowledge and belief
of the undersigned, the undersigned certifies that the information set forth in
this statement is true, complete and correct.
Date: December 20, 2001
PIRELLI 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
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EXHIBIT INDEX
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32. Amended Article I and Paragraph 10(a) of the instrument
governing the bonds issued by the Purchaser to Bell on October 5, 2001 (a copy
of which was filed with Amendment No. 4 to the Statement on Schedule 13D as
Exhibit 12) [English translation]
7