UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 -------------------- SCHEDULE 13D (RULE 13d-101) UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 25) -------------------- TELECOM ITALIA S.P.A. (Name of Issuer) ORDINARY SHARES OF EURO 0.55 PAR VALUE PER ORDINARY SHARE (Title of Class of Securities) 87927W10 (CUSIP Number) AMEDEO NODARI BANCA INTESA S.P.A. PIAZZA DELLA SCALA 6 MILAN 20121, ITALY 011 39 02 87941852 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) FEBRUARY 6, 2006 (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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent. (Continued on following pages) Page 1 of 4 Pages --------------------------- ------------------------- CUSIP No. 87927W10 13D Page 2 of 4 --------------------------- ------------------------- -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON BANCA INTESA S.P.A. I.R.S. IDENTIFICATION NO. Not Applicable OF ABOVE PERSON -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X] (b) [ ] -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: WC -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ] -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Republic of Italy -------------------------------------------------------------------------------- 7 SOLE VOTING POWER: 71,514,808 NUMBER OF SHARES ------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 2,407,345,359 OWNED BY (See Item 5) EACH ------------------------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER: 67,599,997 PERSON WITH -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER: 2,407,345,359 (See Item 5) -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 2,478,860,167 REPORTING PERSON: (See Item 5) -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 18.53% (See Item 5) -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO -------------------------------------------------------------------------------- Page 2 of 4 Pages This Amendment No. 25 amends the Statement on Schedule 13D, dated October 19, 2001, as amended (as previously amended, the "Statement on Schedule 13D"), filed by IntesaBci S.p.A. (now Banca Intesa S.p.A.), a company organized under the laws of the Republic of Italy ("Intesa"), with respect to the ordinary shares, euro 0.55 par value per share, of Telecom Italia S.p.A., a company incorporated under the laws of the Republic of Italy. Capitalized terms used in this Amendment without definition have the meanings ascribed to them in the Statement on Schedule 13D. Intesa, Pirelli, Edizione Holding, Edizione Finance, UniCredito, Olimpia S.p.A. ("Olimpia") and, as discussed in Items 4 and 6 of Amendment No. 7 to the Statement on Schedule 13D, Hopa S.p.A. ("Hopa") are members of a group with respect to the Telecom Italia Shares. This Amendment constitutes a separate filing on Schedule 13D by Intesa in accordance with Rule 13d-1(k)(2) under the Securities Exchange Act of 1934, as amended. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER On February 6, 2006, Intesa, Olimpia, Pirelli, Edizione Finance, Edizione Holding, and UniCredito issued a joint press release which reports that such parties had notified Hopa of their election to withdraw from the Hopa Agreement. Accordingly, the Hopa Agreement will terminate upon the expiration of its current term on May 8, 2006. A copy of the joint press release is filed as Exhibit 92 to Pirelli's Schedule 13D dated February 15, 2006, filed as Exhibit 67 to this Statement on Schedule 13D and incorporated herein by reference. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS 67. Joint Press Release, dated as of February 6, 2006, issued by Intesa, Olimpia, Pirelli, Edizione Finance, Edizione Holding, and UniCredito. [English translation] (incorporated by reference to Exhibit 92 to the Schedule 13D, dated February 15, 2006, filed with the Securities and Exchange Commission by Pirelli & C. S.p.A.) [SIGNATURES ON NEXT PAGE] Page 3 of 4 Pages SIGNATURES After reasonable inquiry and to the best knowledge and belief of the undersigned, the undersigned certify that the information set forth in this statement is true, complete and correct. Date: February 22, 2006 BANCA INTESA S.p.A. By: /s/ Amedeo Nodari ------------------------------------- Name: Amedeo Nodari Title: Head of Institutional Investments By: /s/ Marco Cerrina Feroni ------------------------------------- Name: Marco Cerrina Feroni Title: Head of Merchant Banking Page 4 of 4 Pages