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ARTICLE · 17 NOVEMBER 1997

Privatization Of Telecom Italia

ItalyWealth Management
Telecom Italia, the former public Italian telecommunications company, is the world's fifth largest fixed telecommunications operator with 25.4 million subscriber fixed lines installed, and at present it is the sole provider of fixed public voice telephony services in Italy. The privatization procedure of the Company, started in 1995, has been completed on November 4, 1997, after a complex series of political and economical decisions affecting the methods of privatization. As a prerequisite to such dismissal, the Italian Communications Agency has been introduced by Law no. 249 of July 31, 1997, effective August 1, 1997.

The privatization of Telecom Italia has resolved in the biggest European public offering ever realized. In such procedure, Studio Legale Tonucci has acted as Italian legal advisor to the Treasury.

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