Difficult day in Piazza Affari for Telecom Italia shares, which at the beginning of the afternoon left more than two points on the field, suffering the worst fall of the Ftse Mib. The sales were triggered by theinterruption of the negotiations for the integration with 3 Italia, Hutchison Whampoa group. The sector Stoxx loses 0,45%.
“The consolidation issue remains possible/probable, but after yesterday's decision it loses its immediate relevance in favor of the fundamentals, which we expect to be rather weak in the short term”, reads a report by Equita, which lowered its opinion on the company to “ hold”, with a target price of €0,7, removing the shares from the recommended portfolio. Telecom's data will be released on August XNUMXst.
The new partner question however, it remains open in view of the exit of the group's main shareholders, starting with Mediobanca. According to "La Repubblica", Hutchison is looking towards September, convinced that the wait will lead Telco shareholders to greater willingness to sell their stake.
Also in September, Mediobanca will announce its intention to exit the syndicate agreement of Telco (the holding company that holds the reference stake in Telecom Italia) and will decide whether to write down Telecom shares to market value.
According to "Il Sole24Ore", on the other hand, negotiations with Hutchison could resume once the path for the spin-off of the network becomes clearer.
