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Statement Clarifying Holdings in Telecom Italia S.p.A


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© Business Wire 2014
2014-02-14 19:54:04 -

Massachusetts Financial Services Company ("MFS") has been requested by the Commissione Nazionale per le Società e la Borsa in Italy ("Consob"), pursuant to section 114, paragraph 5, of the Italian Legislative Decree no. 58 of 24 February 1998 (the “Consolidated Law on Finance”), to publish a statement clarifying its holdings in Telecom Italia S.p.A ("Telecom Italia"), with reference to the filing with the U.S.

Securities and Exchange Commission (the "US SEC"). On 10 February 2014, MFS filed a Schedule 13G notification with the US SEC indicating that MFS beneficially owned 5.7% of the ordinary shares in Telecom Italia.

The reference to ordinary shares was incorrect, as the 343,337,469 shares disclosed in the filing were in fact savings shares that MFS

beneficially owned (equal to 5.7% of savings shares). These savings shares do not carry rights to vote at ordinary or extraordinary shareholder meetings. The Sedol number used in the filling correctly referred to the savings shares. On 13 February 2014, MFS filed an amended Schedule 13G with the US SEC that clarified the inaccuracy. MFS confirms that no major holdings notification pursuant to section 120 of the Consolidated Law on Finance has been made as the requirements for such a notification have not been triggered in respect of our current holdings.

About MFS Investment Management®


Established in 1924, MFS is an active, global asset manager with investment offices in Boston, Hong Kong, London, Mexico City, São Paulo, Singapore, Sydney, Tokyo and Toronto. We employ a uniquely collaborative approach to build better insights for our clients. Our investment approach has three core elements: integrated research, global collaboration and active risk management. As of January 31, 2014, MFS manages US$400.4 billion in assets on behalf of individual and institutional investors worldwide. Please visit mfs.com for more information.

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MFS Investment Management Dan

Flaherty : mailto:DFlaherty@mfs.com , 617-954-4256or James
Aber : mailto:jaber@mfs.com , 617-954-6154


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