UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF DECEMBER 2002
TELECOM ITALIA S.p.A.
(Translation of registrant's name into English)
CORSO D'ITALIA 41
ROME, ITALY 00198
(Address of principal executive offices)
Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F:
FORM 20-F [X] FORM 40-F [ ]
Indicate by check mark if the registrant
is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate by check mark if the registrant
is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7): [ ]
Indicate by check mark whether by furnishing the information
contained in this Form, the registrant is also thereby furnishing
the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934.
YES [ ] NO [X]
If "Yes" is marked, indicate below the file number assigned
to the registrant in connection with Rule 12g3-2(b): 82- _______
[TELECOM ITALIA LOGO]
PRESS RELEASE
ANNOUNCING TELECOM ITALIA SPARKLE, TELECOM ITALIA'S NEW INTERNATIONAL BUSINESS
DEVELOPMENT COMPANY
Rome, 18 December 2002 - Telecom Italia today completed the official paperwork
for the transfer of its International Wholesale Services going concern from the
Domestic Wireline International Business Unit to a wholly-owned Telecom Italia
subsidiary previously known as T.M.I. Italia S.p.A. The company, in future to be
known as Telecom Italia Sparkle S.p.A., takes over the business from 1 January
2003.
This move reflects a consolidated trend among main TLC companies to equip the
management of international services with corporate independence in order to
ensure operational flexibility, appropriate skillsets and enhanced rapidity of
operation on a market that has been undergoing major changes.
Telecom Italia Sparkle's key assets consist of consolidated commercial
experience and technological expertise in global advanced telecommunications
services, offered through a far- reaching and extensive international network
infrastructure. Business undertaken by the new company is expected to generate
turnover of some 1,600 million euros.
Telecom Italia Sparkle's mission is to develop the international services market
for heavy users: wireline and wireless carriers, ISPs and multinationals.
Telecom Italia is undertaking this operation to enhance its competitive position
on the international market, particularly in IP and data transmission services.
The company's objectives are to be a top player on the European market,
consolidate its voice carriage market leadership and, above all, focus on high
value, high growth data and Internet services.
Underpinning this high growth IP and data carriage market strategy are
technological assets consisting of an articulated fibre optic network of
crossborder backbone which provides coverage to the most attractive geographical
markets in Europe, the Mediterranean Basin and South America. These assets place
the Telecom Italia Group among the world's top Internet connectivity concerns.
Telecom Italia Sparkle leverages a bilateral worldwide network of some 360,000
km of submarine cables, supplying direct connections between Italy and 220
countries (and around 240 carriers). Over 18,000 km of crossborder network is
available in Europe. In 2002 this infrastructure carried over 10 billion minutes
of voice traffic and over 15 Gbit/s of IP bandwidth.
"This is the next phase in the process of restructuring Telecom Italia's
international portfolio," says Riccardo Ruggiero, Telecom Italia CEO with
responsibility for the Domestic Wireline Business Unit, which is behind Telecom
Italia Sparkle. "Following disposals of non-core business, we are now creating
more efficient management tools to realize value right through the potential
range of Telecom Italia international market operations."
"The IP and Data market," adds Stefano Mazzitelli, CEO of Telecom Italia
Sparkle, "offers growth potential in the region of 30% annually. This new
company has all the drivers it requires - know how, technology assets and
financial solidity - to strengthen existing business, focus on high value added
markets and play a lead role in this market too."
For more information:
Communication & Media Relations
Domestic Wireline Press Office: +39 06.3688.2023 - 2066
www.telecomitalia.it/press
[TELECOM ITALIA LOGO] [ACCENTURE LOGO]
PRESS RELEASE
TELECOM ITALIA: AGREEMENT FOR THE DISPOSAL OF TE.SS TO ACCENTURE
Rome, 20 December 2002 - Telecom Italia today initialed an agreement with
Accenture for the disposal of 100% of TE.SS, the company that operates the
administrative activities concerning the management of Telecom Italia Group's
personnel. The sale price is equal to approximately 8 million euros.
This deal, which falls under the programme to dispose of Telecom Italia Group
non- core activities, is subject to approval by the relevant Antitrust
authorities.
Following this agreement TE.SS shall continue to conduct operations for the
Telecom Group, guaranteeing continuity of services of the highest order and
ensuring protection of privacy enhanced by the innovation and management
abilities that an international Group of Accenture's pedigree can offer.
This move is a further example of Accenture's strategy of expanding and
developing its business ventures in services where it can leverage its
technological and managerial skills. This particularly applies to HR services,
in which the company operates through Accenture Human Resources Services and its
2,000 plus employees.
Telecom Italia Accenture
Communication & Media Relations Media & Analyst Relations
Corporate Press Office Elisabetta Darida
+39 06.3688.2023/2066 Tel. +39 02.7775 8627
www.telecomitalia.it/press e-mail: elisabetta.darida@accenture.com
Cautionary Statement for Purposes of the "Safe Harbor" Provision of the United
States Private Securities Litigation Reform Act of 1995.
The Private Securities Litigation reform Act of 1995 provides a "safe harbor"
for forward-looking statements. The Press Releases included in this Form 6-K
contain certain forward looking statements and forecasts reflecting management's
current views with respect to certain future events. The ability of the Telecom
Italia Group to achieve its projected results is dependant on many factors which
are outside of management's control. Actual results may differ materially from
those projected or implied in the forward-looking statements. Such forward-
looking information involves risks and uncertainties that could significantly
affect expected results and are based on certain key assumptions.
The following important factors could cause the Telecom Italia Group's actual
results to differ materially from those projected or implied in any forward-
looking statements:
- the continuing impact of increased competition in a liberalized market,
including competition from global and regional alliances formed by other
telecommunications operators in the core domestic fixed-line and wireless
markets of the Telecom Italia Group;
- the ability of the Telecom Italia Group to introduce new services to
stimulate increased usage of its fixed and wireless networks to offset declines
in its fixed-line business due to market share loss and pricing pressures
generally;
- the ability of the Telecom Italia Group to achieve cost-reduction
targets in the time frame established or to continue the process of
rationalizing its non-core assets;
- the impact of regulatory decisions and changes in the regulatory
environment;
- the continuing impact of rapid changes in technologies;
- the impact of political and economic developments in Italy and other
countries in which the Telecom Italia Group operates;
- the impact of fluctuations in currency exchange and interest rates;
- Telecom Italia's ability to implement successfully its 2002-2004
Industrial Plan, including the rationalization of its corporate structure and
the disposition of Telecom Italia's interests in various companies;
- the ability of the Telecom Italia Group to successfully achieve its debt
reduction targets;
- Telecom Italia's ability to successfully roll out its UMTS networks and
services and to realize the benefits of its investment in UMTS licenses and
related capital expenditures;
- Telecom Italia's ability to realize the benefits of the merger of SEAT
and Tin.it;
- Seat's Ability To Successfully Implement Its Internet Strategy;
- the ability of the Telecom Italia Group to achieve the expected return
on the significant investments and capital expenditures it has made in Latin
America and in Europe;
- the amount and timing of any future impairment charges for Telecom
Italia's licences, goodwill or other assets; and
- the impact of litigation or decreased mobile communications usage
arising from actual or perceived health risks or other problems relating to
mobile handsets or transmission masts.
The foregoing factors should not be construed as exhaustive. Due to such
uncertainties and risks, readers are cautioned not to place undue reliance on
such forward-looking statements, which speak only as of the date hereof.
Accordingly, there can be no assurance that the group will achieve its projected
results.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: Dicember 31, 2002
TELECOM ITALIA S.p.A.
BY: /s/ Carlo De Gennaro
---------------------------
Carlo De Gennaro
Company Manager