EMEA - Telecoms Coverage Cluster BofA Merrill Lynch Investment rating Company ticker Bloomberg symbol Analyst BUY BT BT BT US Sunil P. Patel BT BTGOF BT/A LN Sunil P. Patel DNA Oyj XDNAF DNA FH Sunil P. Patel lliad ILIAF ILD FP Frederic Boulan, CFA Inwit XISWF INW IM Parin Shah, CFA KPN KKPNF KPN NA Frederic Boulan, CFA Orange FNCTF ORA FP Frederic Boulan, CFA Orange ORAN ORAN US Frederic Boulan, CFA TDC A/S TDCAF TDC DC Sunil P. Patel Tele Columbus XBTLF TC1 GR Sunil P. Patel Telecom Italia -RSP TIAJF TITR IM David Wright Telecom Italia SPA Tl TIUS David Wright Telecom Italia SPA TIAOF TIT IM David Wright Telefonica SA TEFOF TEF SM David Wright Telefonica SA TEF TEF US David Wright Telenet Group Holding NV TLGHF TNET BB David Wright Telenor TELNF TEL NO Sunil P. Patel Telenor TELNY TELNY US Sunil P. Patel NEUTRAL Bouygues BOUYF EN FP Frederic Boulan, CFA Deutsche Telekom DTEGY DTEGY US Frederic Boulan, CFA Deutsche Telekom DTEGF DTE GR Frederic Boulan, CFA Liberty Global LBTYA LBTYA US David Wright Orange Belgium MBSRF OBEL BB David Wright SFR Group SA NUMCF SFR FP Frederic Boulan, CFA Swisscom SWZCF SCMN VX Frederic Boulan, CFA Swisscom SCMWY SCMWY US Frederic Boulan, CFA Telia Company TLSNF TELIA SS Sunil P. Patel Vodafone Group VOD VOD US David Wright Vodafone Group VODPF VOD LN David Wright UNDERPERFORM Cellnex XWHXF CLNX SM Parin Shah, CFA Ei Towers EITOF EIT IM Parin Shah, CFA Elisa ELMUF ELISA FH Sunil P. Patel Proximus BGAOF PROX BB David Wright RAI Way XRWSF RWAY IM Parin Shah, CFA TalkTalk TLKTF TALK LN Sunil P. Patel Tele2 AB TLTZF TEL2B SS Sunil P. Patel Telefonica Deutschland TELDF 02D GR Frederic Boulan, CFA RSTR Altice NV -A ALLVF ATC NA Frederic Boulan, CFA Altice NV -B ALVVF ATCB NA Frederic Boulan, CFA Drillisch AG DRHKF DRI GY Frederic Boulan, CFA RVW United Internet AG UDIRF UTDI GY Frederic Boulan, CFA 30 Global Equity Volatility Insights | 06 June 2017 oa erllinal HOUSE_OVERSIGHT_023604