0000950103-14-000940.txt : 20140207 0000950103-14-000940.hdr.sgml : 20140207 20140207120007 ACCESSION NUMBER: 0000950103-14-000940 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20140207 DATE AS OF CHANGE: 20140207 GROUP MEMBERS: TELECOM ITALIA INTERNATIONAL N.V. GROUP MEMBERS: TIM BRASIL SERVICOS E PARTICIPACOES S.A. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TIM PARTICIPACOES SA CENTRAL INDEX KEY: 0001066116 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-85398 FILM NUMBER: 14582854 BUSINESS ADDRESS: STREET 1: AV. DAS AMERICAS, 3434 STREET 2: BLOCO 1, 7O ANDAR - PARTE CITY: RIO DE JANEIRO - RJ STATE: D5 ZIP: 22640-102 BUSINESS PHONE: 551181130582 MAIL ADDRESS: STREET 1: AV. DAS AMERICAS, 3434 STREET 2: BLOCO 1, 7O ANDAR - PARTE CITY: RIO DE JANEIRO - RJ STATE: D5 ZIP: 22640-102 FORMER COMPANY: FORMER CONFORMED NAME: TELE CELULAR SUL PARTICIPACOES SA DATE OF NAME CHANGE: 19980716 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TELECOM ITALIA S P A CENTRAL INDEX KEY: 0000948642 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATION SERVICES, NEC [4899] IRS NUMBER: 000000000 STATE OF INCORPORATION: L6 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: PIAZZA DEGLI AFFARI 2 CITY: 20123 MILAN STATE: L6 ZIP: L6 BUSINESS PHONE: 011-39-02-8595-1 MAIL ADDRESS: STREET 1: PIAZZA DEGLI AFFARI 2 CITY: 20123 MILAN STATE: L6 ZIP: L6 FORMER COMPANY: FORMER CONFORMED NAME: STET SOCIETA FINANZIARIA TELEFONICA PA DATE OF NAME CHANGE: 19950727 SC 13D/A 1 dp43858_sc13da.htm FORM SC 13D/A
As filed with the Securities and Exchange Commission on February 7, 2014
Registration No. 333-______


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)*

TIM PARTICIPAÇÕES S.A.
(Name of Issuer)
 
COMMON SHARES,
WITHOUT PAR VALUE
 
 
88706P 20 5
(Title of Class of Securities)
 
(CUSIP Number)

 
ANTONINO CUSIMANO
TELECOM ITALIA S.P.A.
PIAZZA DEGLI AFFARI, 2
20123 MILAN
ITALY
Telephone: +39 06 3688 1
 
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 
With a copy to:
 
 
JEFFREY M. OAKES, ESQ.
DAVIS POLK & WARDWELL LLP
99 GRESHAM STREET
LONDON EC2V 7NG
UNITED KINGDOM
Telephone: +44 20 7418 1386
 
February 6, 2014
 
(Date of Event which Requires Filing of this Statement)
 
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-l(f) or 240.13d-l(g), check the following box.
 
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
 
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
 
CUSIP No 88706P106
 
Number of Shares Beneficially Owned By Each Reporting Person With
 
1. Names of Reporting Persons.
2. Check the Appropriate Box if a Member of a Group (See Instructions)
3. SEC Use Only
4. Source of Funds (See Instructions)
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e).
6. Citizenship or Place of Organization
7. Sole Voting Power
8. Shared Voting Power
9. Sole Dispositive Power
10. Shared Dispositive Power
11. Aggregate Amount Beneficially Owned by Each Reporting Person
12. Check if the Aggregate Amount in Column (11) Excludes Certain Shares (See Instructions)
13. Percent of Class Represented by Amount in Column (11)
14. Type of Reporting Person (See Instructions)
Telecom Italia S.p.A.
 
(a)
(b)
 
Not applicable
 ☐
Italy
1,611,969,946
 
1,611,969,946
 
1,611,969,946
 ☐
66.68%
HC, CO
Telecom Italia International N.V.
(a)
(b)
 
Not applicable
 ☐
The Netherlands
1,611,969,946
 
1,611,969,946
 
1,611,969,946
 ☐
66.68%
HC, CO
TIM Brasil Serviços e Participações S.A.
(a)
(b)
 
Not applicable
 ☐
Brazil
1,611,969,946
 
1,611,969,946
 
1,611,969,946
 ☐
66.68%
HC, CO
 
 
 
 

 
 
Explanatory Note
 
This Amendment No. 3 to Schedule 13D (“Amendment No. 3”) supplements the statement on Schedule 13D filed with the Securities and Exchange Commission (the “SEC”) on April 1, 2010 (the “Original Schedule 13D”), as amended by Amendment No. 1 to Schedule 13D filed with the SEC on June 13, 2011 (“Amendment No. 1”) and Amendment No. 2 to Schedule 13D filed with the SEC on August 15, 2011 (“Amendment No. 2”), each filed by the Reporting Persons with respect to the common shares without par value of TIM Participações S.A. (the “Issuer”) (the Original Schedule 13D, as amended and supplemented by Amendment No. 1, Amendment No. 2 and this Amendment No. 3, the “Schedule 13D”). Capitalized terms used in this Amendment No. 3 and not otherwise defined shall have the meanings ascribed to such terms in Schedule 13D.  This Amendment No. 3 amends items 4 and 7 as set forth below.
 
Item 4.  Purpose of Transaction
 
Item 4 is hereby supplemented by addition of the following:
 
On February 6, 2014, Telecom Italia S.p.A. published a press release describing the procedures adopted by the Board of Directors to be followed to manage any extraordinary transaction relating to Telecom Italia shareholdings in Tim Brasil group companies.  A copy of Telecom Italia S.p.A.’s press release is filed herewith as Exhibit 1.
 
Item 7.  Material to be Filed as Exhibits
 
Exhibit No.
Description
   
1
Press Release dated February 6, 2014

 
 

 
 
 
SIGNATURES
 
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
 
   
TELECOM ITALIA S.P.A.
Date:
February 7, 2014
 
By:
/s/
       
Name:
Riccardo Amerigo Pettazzi
       
Title:
Director of Corporate Affairs
           

   
TELECOM ITALIA INTERNATIONAL N.V.
Date:
February 7, 2014
 
By:
/s/
       
Name:
Francesco Saverio Lobianco
       
Title:
Chief Executive Officer
           

   
TIM BRASIL SERVIÇOS E PARTICIPAÇÕES S.A.
Date:
February 7, 2014
 
By:
/s/
       
Name:
Franco Bertone
       
Title:
Chief Executive Officer
           

 
EX-99.1 2 dp43858_ex99-01.htm EXHIBIT 99.1 Unassociated Document
PRESS RELEASE

TELECOM ITALIA: MINUCCI APPOINTED CHAIRMAN

STRENGTHENED PROCEDURE APPROVED IN CASE OF SALE OF TIM BRASIL

27 FEBRUARY BOARD MEETING ON GOVERNANCE EVOLUTION

TREND OF THE MAIN OPERATIVE AND MARKET INDICATORS FOR 2013 EXAMINED


Milan, 6 February 2014


The Board of Directors of Telecom Italia today appointed Aldo Minucci as Chairman of the Board of Directors, with the powers granted by law and the Bylaws, without any changes to the existing powers vested in the CEO, Marco Patuano. Director Aldo Minucci previously held the office of Vice Chairman.

The Board of Directors received the results of the analysis and drafting work entrusted to the management on 16 January 2014 for the purpose of establishing a procedure to manage any extraordinary transaction relating to Telecom Italia shareholdings in Tim Brazil group companies. The document was unanimously adopted, and is being published on the company's website.

The procedure meets the highest standards of governance and regulates the investigation and decisionmaking process for any transaction that may result in the transfer to any entity other than Telecom Italia of its holdings in the Tim Brasil Group. The procedure will also apply to possible transactions involving assets or branches of business for a value, even cumulative, exceeding 2 billion euros.

As decided in the meeting of 16 January, the Board of Directors then obtained the results of the governance benchmarking analysis, conducted on a panel including the largest listed companies on Borsa Italiana, as well as European peers. The purpose of the exercise was to gather information, rather than to make decisions.

The management received mandate to draw up a proposal on how to evolve the existing governance, aimed at aligning Telecom Italia with the best practice; the Board of Directors will examine it in a meeting on 27 February in view of the formulation of its indications on the structure of the new Board to be appointed on 16 April 2014 by the Shareholders’ Meeting.

The Board also examined the trend of the main operating and market indicators which, in consideration of the available evidence, indicate, with reference to the guidance for the full year 2013:
− the reduction of the Group's adjusted net financial position at 31 December 2013 to a level below 27 billion euros, in line with the target;
− the Group and Domestic organic EBITDA trends to be in line with the targets, as communicated in
August 2013;
 
 
 
 

 
 
 
− the performance of the Group and the Domestic organic revenues to be slightly lower than the target stated in February 2013, also due to the effect of the competitive dynamics and the changed national regulatory conditions.

Overall the recent trend of the domestic operations shows signs of gradual improvement, in line with the new targets of the 2014-2016 Plan.

The Board of Directors will examine the financial results for the year 2013 in the meeting scheduled for 6 March 2014. The collection of these data is in progress: the indications stated in this press release are based on assumptions deemed to be reasonable, but they should be considered preliminary and subject to change.

Finally, the Board of Directors decided to cancel the 'hybrid' bond issue programme for a total of 3 billion euros.


Telecom Italia
Telecom Italia
Press Office
Investor Relations
+39 06 3688 2610
+39 02 8595 4131
www.telecomitalia.com/media
www.telecomitalia.com/investorrelations

 

2

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