Reacting to the media reports about a possible cut in the Telecom Italia dividend, the company on Wednesday clarified that the decision on dividends will be taken by the Board of Directors when it meets to approve the preliminary financial statements on 29 March.

”During the meeting of 19 January, however, the Board did express its orientation, with a view to protecting the company and its shareholders, towards giving absolute priority to develeraging and to maintenance of the rating, especially in the light of the recent downgrade of Italy's creditworthiness”, the company said. 

The company said that it takes this opportunity to reiterate that the 2012 financial calendar foresees an examination of the preliminary 2011 statements on 23 February, approval of the TI SpA financial statements and consolidated group statements on 29 March, and the convocation of the Shareholders' Meeting for 15 May (ex-coupon on 21 May).