so much speculation. they've even employed italian lip-readers!
according to materazzi:
"I held his shirt for a few seconds, then he turned to me and talked to me, jeering," said Materazzi. "He looked at me with a huge arrogance and said: 'If you really want my shirt I'll give it to you afterwards.' I replied with an insult, that's true. It was one of those insults you're told dozens of times and that you often let fall on a pitch."
according to a lip reader A:
"You son of a terrorist whore!"
according to a lip reader B:
"I'd rather take the shirt off your mum!"
according to Zidane's cousin:
"You son of Harkis!"