TELECOM ITALIA: SELL

Issues with TIT and why we could see ST weakness for a couple of days.

o/p the SXKP by 20% YTD almost

There have been a lot of catalysts that have played out now…italy consol, bollore involved etc

People been buying them since 1eur for those reasons.

Really the one remaining catalyst is Brazil which won’t happen for a while.

Really well owned by HF’s especially and some will take profits

Could see them pulling back 5% from here.ST sell and anywhere near 1.1 I would be loading up!