Newsgroup: it.economia.borsa
Titolo: TI e TIR: facciamo qualcosa

Riporto da Reuters: Colaninno ha negato, ma in realtà sta pensando di
recedere dalla proposta di conversione delle TIR.
Esiste un Fondo chiamato "Liverpool Limited Partnership" che sta
raccogliendo le promesse solenni (pledges) da parte di possessori di TIR che
siano disposti a impegnarsi a non convertire per nessuna ragione alle
condizioni prospettate da TELECOM.
Per manifestare il proprio consenso e aderire è sufficiente telefonare o
mandare un fax alla loro "London Newsroom 
+44 207 542 7721
 fax +44 207 542
2120" indicando semplicemente Nome, Cognome, quantità detenuta ed
impegnandosi a non convertire alle condizioni attuali.
Lunedì verranno tirate le somme e se sarà stato raggiunto almeno il 20%
delle TIR in circolazione, TELECOM saprà già che la sua operazione non potrà
andare in porto alle condizioni attuali.
Un testo tipico potrebbe essere:
I, <Nome Cognome (Città - Italy)>, holder of <numero delle TIR possedute>
non-voting saving shares of TELECOM ITALIA here formally declare  that I
will not, for any reason, accept the converting mechanism proposed by
Telecom so far. I intend to continue to hold those non-voting saving shares
as they are, without converting them in voting shares if the convertion fee
will not be lowered very much in a next future. <data> <firma>.
Indi mandare per fax allo 
+44 207 542 2120
.
Facciamolo ragazzi: una occasione per dire la nostra davvero.
Riporto sotto il comunicato Reuters.
Riccardo Parenti
www.trading-on-line.org
Telecom Italia may alter share proposal - FT
Telecom Italia may alter share proposal - FT LONDON, Feb 15 (Reuters) -
Telecom Italia is considering concessions on its landmark share swap
proposal in an attempt to ward off a revolt by some of its savings
shareholders, the Financial Times online service said on Thursday. Chief
Executive Roberto Colaninno last week dismissed market speculation that the
telecoms group was about to sweeten the terms of its controversial
conversion of non-voting saving shares as 'fantasies'. However, the FT said
some savings shareholders are poised to block the deal, unhappy at the price
at which they are being asked to convert their non-voting stock into
ordinary shares. Growing opposition to the deal from fund managers has
prompted Telecom Italia to soften its stance on the price, the report said.
'They're coming to us asking about a 40 per cent discount,' one U.S. fund
manager said. 'We'll see what they actually offer but I'm inclined to get a
better discount.' The company wants savings shareholders to pay cash equal
to 48 percent of the market value of ordinary shares to convert their stock
into ordinary shares. That would raise up to 12.8 billion euros ($11.57
billion), money that would be used to buy back up to 10 percent of ordinary
shares. The move is part of a deal that Colaninno hopes will reduce cashflow
pressures on Telecom Italia to pay dividends to Olivetti , its holding
company. Some fund managers said they expected to gather almost 20 per cent
of the company's non-voting savings shares and stop Telecom Italia from
converting their shares at a price they consider unfair. Colaninno unveiled
the plan on February 5 but said it would proceed only if at least 80 per
cent of savings shares are tendered for conversion. Liverpool Limited
Partnership, a Bermuda-based hedge fund that is seeking pledges from
investors who hold non-voting shares not to tender those shares, said it
hoped to announce how many pledges it had gathered by Monday. ((London
Newsroom 
+44 207 542 7721
 fax 
+44 207 542 2120
)) ($1=1.106 Euro)
Copyright 2000 Reuters Limited.

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