May 26, 2016 / 4:04 AM / a year ago

Italy - Factors to watch on May 26

The following factors could affect Italian markets on Thursday.

Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).

For a complete list of diary events in Italy please click on .

ECONOMY

ISTAT releases March retail sales data (0800 GMT) and April wage inflation (0900 GMT).

Rome, Economy Minister Pier Carlo Padoan speaks before Senate and Chamber of Deputies Budget committees (1230 GMT).

DEBT

Treasury sells 2-2.5 billion euros CTZ bonds due March 28, 2018. Subscriptions close at 0900 GMT.

COMPANIES

TELECOM ITALIA

The group’s shareholders backed a special award plan for its new Chief Executive Flavio Cattaneo and other top managers on Wednesday, despite wider investor criticism of excessive boardroom pay.

Telecom Italia’s top management due to informally speak before Senate Industry Committee (1245 GMT).

ENEL

The board of Italian state lender Cassa Depositi e Prestiti (CDP) has mandated its managers to start exclusive talks with Enel over the sale of fibre-optic group Metroweb, a source close to the matter said on Wednesday.

The company holds annual and extraordinary shareholders’ meeting (1200 GMT).

POSTE ITALIANE

Italy’s Treasury said on Wednesday it planned to sell a 30 percent stake of Poste Italiane on the market after first handing over 35 percent of the post office to state lender Cassa Depositi e Prestiti (CDP).

The two-step process will result in the Treasury completely selling out of the national post office, which was part of the public administration for decades and was partly privatised last October.

UNICREDIT

Italy’s biggest bank said on Wednesday Chairman Giuseppe Vita and three of its top executives will meet on June 1 to discuss the selection of a specialist headhunter recruitment firm to help it find a new chief executive.

(*) The selection process to appoint a new chief executive will take about 30-40 days, Il Sole 24 Ore reported, adding the European Central Bank was keeping a close eye on the succession at the helm of Italy’s only globally systemically important financial institution.

(*) UniCredit shareholders Leonardo Del Vecchio, Francesco Gaetano Caltagirone, CariVerona and CRTorino banking foundations would back a new capital increase at the bank, Il Sole said.

Rating agency Standard & Poor’s has affirmed UniCredit’s BBB- long-term rating with stable outlook.

FIAT CHRYSLER

Alphabet Inc’s Google self-driving car project said Wednesday it will launch this year a new technology development center in suburban Detroit.

The Mountain View, Calif. search company said in a blog post that engineers at the facility, located in Novi, Mich., will start with work fitting the comp any’s autonomous driving systems into Chrysler Pacifica minivans, under a previously announced agreement with Fiat Chrysler Automobiles NV.

(*) UBI BANCA, BANCA POPOLARE DELL‘EMILIA ROMAGNA

A decision on a potential tie-up between Veneto Banca and either UBI Banca or Popolare Emilia would be taken before the unlisted lender launches its 1-billion euro share offer in early June, MF reported. Talks that have been going on off and on for the past two years intensified recently encouraged by the government and banking supervisors, the paper said.

(*) BANCO POPOLARE

The bank’s 1 billion euro cash call is likely to start on June 6, la Repubblica said. Also Veneto Banca is likely to launch its 1 billion euro IPO on the same day, it added.

(*) MEDIASET

French media group Vivendi is accelerating its due diligence over Mediaset’s pay-tv unit Premium, with the aim of reaching a closing by the summer, probably before August, MF reported.

AUTOGRILL

Annual general meeting (0830 GMT).

For Italian market data and news, click on codes in brackets:

20 biggest gainers (in percentage)............

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FTSE IT allshare index

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Stories on Italy...... IT-LEN

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