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Sustainability Channel is the communication channel towards our stakeholders interested in Sustainable approach to the business. The blog is moderated by Pirelli Corporate Sustainability.

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Pirelli exercises call option on TI shares

PIRELLI EXERCISES ITS CALL OPTION TO ACQUIRE 0,46% OF
TELECOM ITALIA ORDINARY SHARES

Milan, 6 April 2004 – Pirelli has exercised its call
option to acquire 47.155.300 Telecom Italia ordinary shares (equal
to 0,46% of the ordinary shares) at Euro 2,12 each, equivalent to
approximately Euro 100 million, as provided for in the call option
contract of November 2001 with JP Morgan on Telecom Italia
shares.

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