Telecom Italia S.p.A. (BIT:TIT) signed a preliminary agreement to acquire two business units in Italy serving public administration and Small & Medium Enterprises from BT Italia S.p.A. on December 10, 2020. The two business units in Italy generated revenues of approximately €90 million during the fiscal year ended in March 2020. The transaction is subject to consultations with trade unions and regulatory clearance and is expected to close by the end of the first quarter of 2021. Agostino Nuzzolo, Dino Dima, Alfonso de Marco and Francesco Caccioppoli of Curtis Mallet-Prevost Colt & Mosle, L.L.P., acted as legal advisor to Telecom Italia. Domenico Gullo of Dla Piper acted as legal advisor to Telecom Italia. Stefano Vicariotto and Vittorio Noseda of NCTM Studio Legale Associato acted as legal advisor to BT Italia. Riccardo Michelutti and Francesco Capitta of Studio Legale Tributario Facchini Rossi Michelutti, accountancy arm acted as accountant for BT Italia. Telecom Italia S.p.A. (BIT:TIT) completed the acquisition of two business units in Italy serving public administration and Small & Medium Enterprises from BT Italia S.p.A. on June 30, 2021. The transaction has been cleared by the relevant Authorities including the Italian Competition Authority.