Exhibit 43


                            PRESS RELEASE OLIMPIA SPA
                            -------------------------


Milan, 13 November 2003 - The General Shareholders Meeting of Olimpia SpA today
met - with the attendance of all shareholders, board members and statutory
auditors - and approved a capital increase of up to 770 million Euros, at par
value, in two separate tranches.

The first tranche of 700 million Euros will be used, as already announced to the
market on 11 November 2003, to purchase Telecom Italia ordinary shares. In
particular, approximately 295 million ordinary shares at a unit price of 2.37
euros will be made available by Mediobanca on 18 December 2003, following the
agreement signed on 5 November.

Full subscription of the first tranche of the capital increase has been
guaranteed in the General Shareholders Meeting.

After this operation, the shareholding of Olimpia SpA in Telecom Italia SpA
ordinary capital will increase to approx. 17.02% from 14.16%.

The second tranche, for an amount up to 70 million Euros, could be subscribed
within 7 January 2004.