Exhibit 7.1



Statement explaining computation of ratio of Earnings to fixed

charges under IFRS



|                                                                                         |  |    |   |  |                         |   |  |                   |   |  |                   |   |  |                   |   |  |                   |  
|---------------------------------------------------------------------------------------- |  | -- | - |  | ----------------------- | - |  | ----------------- | - |  | ----------------- | - |  | ----------------- | - |  | ----------------- | -
|                                                                                         |  |    |   |  | Year ended December 31, |  
|                                                                                         |  |    |   |  | 2009(1)                 |   |  | 2008(Restated)(1) |   |  | 2007(Restated)(1) |   |  | 2006(Restated)(1) |   |  | 2005(Restated)(1) |  
|                                                                                         |  |    |   |  | (millions of Euro)      |  
|Earnings                                                                                 |  |    |   |  |                         |   |  |                   |   |  |                   |   |  |                   |   |  |                   |  
|Profit before tax from continuing operations                                             |  |    |   |  | 3,339                   |   |  | 2,894             |   |  | 4,120             |   |  | 5,366             |   |  | 5,596             |  
|Fixed charges                                                                            |  |    |   |  | 2,177                   |   |  | 2,375             |   |  | 2,445             |   |  | 2,516             |   |  | 2,594             |  
|Amortization of capitalized interest and issue debt discounts or premiums                |  |    |   |  |                        |   |  |                  |   |  |                  |   |  |                  |   |  |                  |  
|Dividends from associates and joint ventures accounted for using the equity method       |  |    |   |  | 20                      |   |  | 54                |   |  | 50                |   |  | 49                |   |  | 66                |  
|Share of losses of associates and joint ventures accounted for using the equity method   |  |    |   |  | 11                      |   |  | 14                |   |  | 2                 |   |  | 7                 |   |  | 149               |  
|Capitalized interest for the applicable period                                           |  |    |   |  |                        |   |  |                  |   |  |                  |   |  |                  |   |  |                  |  
|Share of earnings of associates and joint ventures accounted for using the equity method |  |    |   |  | (80                     | ) |  | (79               | ) |  | (89               | ) |  | (59               | ) |  | (173              | )
|                                                                                         |  |    |   |  |                         |   |  |                   |   |  |                   |   |  |                   |   |  |                   |  
|                                                                                         |  | (A | ) |  | 5,467                   |   |  | 5,258             |   |  | 6,528             |   |  | 7,879             |   |  | 8,232             |  
|Fixed charges                                                                            |  |    |   |  |                         |   |  |                   |   |  |                   |   |  |                   |   |  |                   |  
|Interest expenses (both expensed and capitalized)                                        |  |    |   |  | 2,129                   |   |  | 2,333             |   |  | 2,416             |   |  | 2,488             |   |  | 2,565             |  
|Issue costs and any original issue debt discounts or premiums                            |  |    |   |  | 7                       |   |  | 7                 |   |  | 7                 |   |  | 7                 |   |  | 7                 |  
|Estimated interest within rental expense for operating leases                            |  |    |   |  | 41                      |   |  | 35                |   |  | 22                |   |  | 21                |   |  | 22                |  
|                                                                                         |  |    |   |  |                         |   |  |                   |   |  |                   |   |  |                   |   |  |                   |  
|                                                                                         |  | (B | ) |  | 2,177                   |   |  | 2,375             |   |  | 2,445             |   |  | 2,516             |   |  | 2,594             |  
|Ratio of Earnings to fixed charges (A/B)                                                 |  |    |   |  | 2.51                    |   |  | 2.21              |   |  | 2.67              |   |  | 3.13              |   |  | 3.17              |  
|                                                                                         |  |    |   |  |                         |   |  |                   |   |  |                   |   |  |                   |   |  |                   |  



|(1) | The data for the years ended December 31, 2008, 2007, 2006 and 2005 have been restated as a result of the correction of errors due to the Telecom Italia
Sparkle case and the changes in accounting principles (IFRIC 13) as well as for comparison purposes, because starting from 2009 HansNet Telekommunikation GmbH has been treated as a discontinued operations/Non-current asset held for sale.
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