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 MAY 2019

 

 

TIM S.p.A.

(Translation of registrant’s name into English)

 

 

Via Gaetano Negri 1

20123 Milan, Italy

(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  ☒            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  ☒

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-             

 

 

 


LOGO

Press Release

TIM’S BOARD OF DIRECTORS MET TODAY

Turin, 6 May 2019

TIM’s Board of Directors met today at the TIM Open Labs in Turin, the same laboratories where since over 50 years research and innovation are developed, paving the way to new communication systems and services. It has been an “immersive” visit through the innovations that ultrabroadband and 5G technologies are bringing, thus providing an opportunity for sustainable and intelligent growth for TIM’s business and in the interest of Italy as a whole.

The Board of Directors confirmed the importance for TIM of the research activity and reiterated the intention to strengthen the activity of TIM Open Labs. To this end, it was decided to forge a more intense relationship with the main universities and research centers in the country, also through the funding of 30 PhDs in technological fields over the next 3 years.

The Board of Directors was also updated on the main open issues (starting from the partnership with Vodafone, negotiations with whom are proceeding according to schedule and in line with the objectives that the parties have set) and on the work under way to ensure the deployment of the business plan and the achievement of the company’s objectives. The discussion also concerned the progress of contacts with Open Fiber and the prospects for the development of the network. Finally, an update was provided on the negotiations about how to make the most of Persidera, which the Company confirms as one of its objectives for the period.

At the request of the parties concerned, the Board re-evaluated the independence of Board members Roscini and Sabelli in the light of the fact that their brothers are both TIM employees, confirming it by a majority vote with one abstention and one contrary vote.

The meeting was also an opportunity to consider the assessment made by the Board of Statutory Auditors, according to which the shareholder Elliott Capital Advisors L.P. exercises significant influence over the Company (see the report pursuant to article 153 of the Law on Consolidated Finance (TUF), published in view of the Shareholders’ Meeting for the approval of the financial statements). Based also on the preliminary assessment carried out by the Related Parties Committee, the Board of Directors did not agree, by a majority vote and with three abstentions, with such conclusion as it did not consider the details required by the law to be met.

According to the financial calendar, the Board of Directors will meet again on 20 May to review the results of the first quarter.

TIM Press Office

+39 06 3688 2610

www.telecomitalia.com/media

Twitter: @TIMnewsroom

TIM Investor Relations

+39 06 3688 2807

www.telecomitalia.com/investor_relations

Cautionary Statement for Purposes of the “Safe Harbor” Provisions 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 Group’s financial report for the twelve months ended December 31, 2018 included in this Form 6-K contains certain


forward-looking statements. Forward-looking statements are statements that are not historical facts and can be identified by the use of forward-looking terminology such as “believes,” “may,” “is expected to,” “will,” “will continue,” “should,” “seeks” or “anticipates” or similar expressions or the negative thereof or other comparable terminology, or by the forward- looking nature of discussions of strategy, plans or intentions.

Actual results may differ materially from those projected or implied in the forward-looking statements. Such forward-looking information is based on certain key assumptions which we believe to be reasonable but forward-looking information by its nature involves risks and uncertainties, which are outside our control, that could significantly affect expected results.

The following important factors could cause our actual results to differ materially from those projected or implied in any forward-looking statements:

 

  1.

our ability to successfully implement our strategy over the 2019-2021 period;

 

  2.

the continuing effects of the global economic crisis in the principal markets in which we operate, including, in particular, our core Italian market;

 

  3.

the impact of regulatory decisions and changes in the regulatory environment in Italy and other countries in which we operate;

 

  4.

the impact of political developments in Italy and other countries in which we operate;

 

  5.

our ability to successfully meet competition on both price and innovation capabilities of new products and services;

 

  6.

our ability to develop and introduce new technologies which are attractive in our principal markets, to manage innovation, to supply value added services and to increase the use of our fixed and mobile networks;

 

  7.

our ability to successfully implement our internet and broadband strategy;

 

  8.

our ability to successfully achieve our debt reduction and other targets;

 

  9.

the impact of fluctuations in currency exchange and interest rates and the performance of the equity markets in general;

 

  10.

the outcome of litigation, disputes and investigations in which we are involved or may become involved;

 

  11.

our ability to build up our business in adjacent markets and in international markets (particularly in Brazil), due to our specialist and technical resources;

 

  12.

our ability to achieve the expected return on the investments and capital expenditures we have made and continue to make in Brazil;

 

  13.

the amount and timing of any future impairment charges for our authorizations, goodwill or other assets;

 

  14.

our ability to manage and reduce costs;

 

  15.

any difficulties which we may encounter in our supply and procurement processes, including as a result of the insolvency or financial weaknesses of our suppliers; and

 

  16.

the costs we may incur due to unexpected events, in particular where our insurance is not sufficient to cover such costs.

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. We undertake no obligation to release publicly the result of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof, including, without limitation, changes in our business or acquisition strategy or planned capital expenditures, or to reflect the occurrence of unanticipated events.


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: May 7, 2019

 

  TIM S.p.A.
BY:  

/s/ Umberto Pandolfi

  Umberto Pandolfi
  Company Manager
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