The stock is recovering compared to the negative performance of the previous sessions and is also supported by the interview with the CEO, Pietro Labriola on the company’s role in the consolidation of the sector.
TIM will be ready for industry consolidation after completing the important operation of divestment of the 22 billion network, which will free the group from billions of euros of debt. The debt reduction will, in fact, allow the company to “play an active role in the process of consolidation of the Italian market which will certainly take place in the coming years”, he states the CEO Pietro Labriola in an interview for Bloomberg’s Italian-language podcast, ‘What Money Don’t Say’.
Comparing the performance of the stock with the FTSE MIBon a weekly basis, we notice that the telephone company maintains positive relative strength in comparison with the index, demonstrating a greater appreciation by investors compared to the index itself (weekly performance +2.11%, compared to +0.82% of the main index of the Milan Stock Exchange).
The medium-term technical implications are always read in a bullish light, while in the short term we are witnessing a weakening of the bullish push due to the evident difficulty in proceeding above 0.256 Euro. The most immediate support level controlling the current phase is still valid, seen in the 0.244 area. The most consistent expectations favor an extension of the corrective movement towards 0.2365, which will occur in a reasonably short time.
(Teleborsa) 03-06-2024 12:12
