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MILAN (Reuters) - Shares in Telecom Italia (TLIT.MI) fell more than 3 percent in early trade on Friday after the company's full-year results failed to excite the market.
An analyst said management had already stated that profitability and debt targets for last year were reached, while improvements achieved in the final quarter of 2013 came with no surprise.
At 0806 GMT, Telecom shares were down 2.63 percent at 0.82 euros, compared with a 0.4 percent drop in Milan's FTSE MIB blue-chip index .FTMIB.
Reporting by Agnieszka Flak; editing by Danilo Masoni