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TELECOM ITALIA: MERRILL LYNCH RAISES RECOMMENDATION FROM "NEUTRAL" TO "BUY".(Brief Article)

Tech Europe, September, 2004

American bank Merrill Lynch raised its recommendation on Telecom Italia from "neutralo to "buy" on September 13, say market sources. According to a Merrill Lynch analysis of the European telecoms sector, Telecom Italia shares are among those in the sector that present the least operational risk.

Merrill Lynch added that Telecom Italias return on investment profile is one of the most attractive in the sector and calculated that one Telecom Italia share kept from September 13 until the end of 2008 could generate a 14.2% return per year, with 4.8% coming from dividends.

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