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Olimpia rectifies the value of single TI shares in its portfolio to 4.2 euros

OLIMPIA RECTIFIES THE VALUE OF SINGLE
TELECOM ITALIA SHARES IN ITS PORTFOLIO TO APPROXIMATELY 4.2
EUROS
Milan, 8 March 2006 – The Board of
Directors of Olimpia SpA met to approve 2005 results and resolved
to rectify the value at which it carries single Telecom Italia
shares in its accounts. This value changes from 4.63 euros to 4.23
euros.
The rectification, equal to 0.40 euros per
share, was determined on the basis of both the stock’s market
performance, which was impacted by the negative sentiment that
affected the entire telecommunications sector, and the reduction of
intrinsic values expressed by the market in 2005. This decision
entails a rectification of the total value of Olimpia’s stake in
Telecom Italia of approximately 1 billion euros.
This happened despite Telecom Italia’s positive
results, as confirmed by the decision of Telecom Italia’s board to
propose a dividend increase to shareholders when they meet on April
12th and 13th, with a consequent positive financial effect on
Olimpia’s 2006 accounts.

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Categories: Investors