Is it Still a Wise Move to Invest in Telecom Italia (TIIAY)?


Bonhoeffer Capital Management, an investment management firm, published its second-quarter 2022 investor letter – a copy that can be downloaded here. The Bonhoeffer Fund returned -14.9% net of fees in the second quarter of 2022. In the same time period, the MSCI World ex-US, a broad-based index, returned -14.7%, and the DFA International Small Cap Value Fund, Its closest benchmark, returned -13.7%. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Bonhoeffer Capital Management mentioned Telecom Italia SpA (NYSE:TIIAY) and explained its insights for the company. Founded in 1994, Telecom Italia SpA (NYSE:TIIAY) is a Rome, Italy-based telecommunications company with a $3.8 billion market capitalization. Telecom Italia SpA (NYSE:TIIAY) delivered a -61.21% return since the beginning of the year, while its 12-month returns are down by -53.98%. The stock closed at $1.89 per share on September 22, 2022.

Here is what Bonhoeffer Capital Management has to say about Telecom Italia SpA (NYSE:TIIAY) in its Q2 2022 investor letter:

Telecom Italy (NYSE: TIIAY) is still in negotiations about the sale/merger of their core network. Once the network is sold/merged, TI should be able to focus on improving their core business. There are proposals of nationalization of the core network and the constant delays and deteriorating short-term performance have further weighed on the price of the shares this past quarter.”

Photo by Mika Baumeister on Unsplash

Our calculations show that Telecom Italia SpA (NYSE:TIIAY) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Telecom Italia SpA (NYSE:TIIAY) delivered a -30.12% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article was originally published at Insider Monkey.



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