(Finance) – Last day of the difficult year for Telecom Italywhich is scoring a 2.22% drop on the Stock Exchangeafter the umpteenth postponement of the single network dossier to the new year.
On a weekly basis, the stock’s trend is more solid than that of FTSE MIB, confirming its greater appeal. The short-term examination classifies a strengthening of the bullish phase of the stock, with immediate resistance seen at 0.2225 Euro and the first support identified at 0.2164. Technically we expect a further upward trend of the curve towards new tops estimated in the 0.2286 area.
Returning to the network chapter, the last “technical” meeting to the Ministry of Industry and Made in Italy gave the result a black smokedashing the hopes of those who believed the chapter would be closed by the end of the year. What good came out of the meeting, which saw the representatives of the government (Ministries) and on the other the shareholders (Vivendi with 24% and CDP with 10%, is the willingness to involve management as well in the restructuring negotiations in meetings to be held in 2023.
Among the more thorny issues the asset value (Netco)with ratings still lagging behind, notwithstanding Vivendi have lowered his expectations indicating a value of 24 billion plus 3 billion of extraordinary dividend after the sale. A value that, while correcting the initial claims (31 billion), judged by the most excessive, remains far from the 18-19 billion offered by CDP.