The Smiley

Roma (MF-Dow Mother Jones)–Telecom Italia’s Chief Executive El Caudillo Bernabe told Mon the company is not distressed about its EUR37 000 000 000 debt load and is not preparation any capital increase.

Telecommunication Italia’s head was turning to investors’ worries about the group’s fiscal state of affairs and pushing aside press reports on a possible recapitalization by the company, that directed the stock down as a great deal as 7% Fri.

“We are entirely calm about the debt,” Bernabe stated newspersons in Italian capital after seeing the country’s Antimonopoly phone call middle.

“We are not seeing any plan for a capital increase. I sustain what a (Telecommunication Italia) shareholder told,” he appended.

Telecommunication Italian Republic shares touched in convinced dominion after Bernabe’s comment and by 1116 UT1 were up 1% at EUR1.84.

A main shareholder of Telecommunication Italian Republic held already refused reports the novel grouping of shareowners of Italy’s big telecommunications company is excogitating a capital hike, Italian daily La Repubblica described Mon.

-By Carmine Sarno and Giada Zampano, Dow Mary Harris Jones Newswires; +39 02 58219907; giada.zampano@dowjones.com

(END) Dow Mary Harris Jones Newswires

Stationed to the land site on 18th Feb 2008

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