Telecom Italia on the shields in Piazza Affari. At 12 the stock achieved one of the best performances of the Ftse Mib with a +2,96% to 0,4982, after having touched an intraday high of 0,5008 cents per share. Since last January 23, the prices have recovered around 12% tornadoes above 10 billion of capitalization (10,151 to be precise). Good news after a very difficult 2018 in which Telecom Italia shares dropped over 33%. Broadening the reference time horizon, in 2014 the share was worth 80 cents, almost double compared to today's levels.
At the basis of the mini rally recorded in recent weeks are the continuous rumors and declarations of the top managers concerned about the possible creation of a single network between Tim and Open Fiber. In fact, some rumors emerged over the weekend about a preliminary confidentiality agreement for possible further collaborations. An agreement that would follow the November memorandum of understanding.
Not only. After the availability expressed by the CEO of Open Fiber, Elisabetta Ripa, (provided that "Tim make it clear") and the words of prudent opening pronounced by Enel's number one, Francesco Starace, those of the managing director of Cassa Depositi e Prestiti also arrived, Fabrizio Palermo. We recall that Enel and Cdp are the two reference shareholders of Open Fiber, holding 50% each. Cassa Depositi also owns 5% of Tim.
"We look forward to your cooperation we are shareholders of Open Fiber and Telecom Italia and we believe they are two important realities. Certainly if there is a favorable framework, with potential incentives for aggregation, it is desirable that we talk to each other, that opportunities for value creation are identified”, declared Palermo.
“We believe 2019 will finally be the year where the project of a single landline will be implemented, the legislator has approved an amendment that aims to speed up the process and there is the support of the Government” writes Mediobanca Securities according to which Tim will remain a significant shareholder of the new entity and could evaluate a shareholders' agreement with CDP above all to untie the issues on governance.
