In relation to the news in the press about a presumed "delisting" operation regarding its subsidiary Telecom Italia Media, Telecom Italia hereby clarifies that within the context of the Group's industrial planning the possible options regarding the subsidiary will be examined.

As in the past, every decision will be made in agreement with the management and corporate bodies of the subsidiary, in a transparent manner and in full compliance with market regulations as well as in the interests of all shareholders. It is understood that, at present, no decision has been made.

Rome, 20 January 2015

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