October 20, 2015 / 6:58 AM / 2 years ago

Italy - Factors to watch on October 20

The following factors could affect Italian markets on Tuesday.

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 (*) The EU will not reject Italian budget law for 2016 even if the European Commission will likely make remarks on specific measures included in the budget, Italy's Economy minister Pier Carlo Padoan told Il Sole 24 Ore.

COMPANIES (*) FIAT CHRYSLER AUTOMOBILES

The car maker faces tax repayments estimated at between 30 and 200 million euros when the European Commission issues a decision this week on tax avoidance by multinational groups, the Financial Times reported citing people involved in the case.

UNICREDIT

UniCredit is considering the sale of retail and small and medium enterprise finance businesses at its central and eastern European arm Bank Austria, two sources close to the matter said on Monday.

(*) TELECOM ITALIA, ENEL

The board of the Italian phone company has given a green light to restarting talks with fiber optic company Metroweb on condition that Telecom would have the majority of a joint-venture with Metroweb from the start, Il Sole 24 Ore said.

The government met Vodafone's executives on Monday to resume talks on the development of a nationwide broadband network, Corriere della Sera said, adding a meeting with utility Enel is expected to take place on Wednesday.

(*) ITALIAN BANKS

Talks between the European Commission and Italy's economy ministry on helping domestic banks to shed their non-performing loans are nearing a positive outcome, Economy Minister Pier Carlo Padoan told Il Sole 24 Ore on Tuesday. Padoan said he wants stronger banks in Italy and does not like the idea of having a "mega bank" in the country.

Under the proposed scheme, the government could take a minority stake in a new private company that would buy bad loans from banks, Il Messaggero said. It said private equity fund Lone Star would be one of the investors in the vehicle.

Italy's top seven banks will fund a credit line worth 1.5 billion euros to shore up Banca Marche, Cassa di Risparmio di Ferrara and Popolare dell'Etruria, three lenders that are under special administration, Il Sole 24 Ore said. The rescue is being engineered through the Fondo interbancario di tutela dei depositi that was originally created to protect current account holders. (*) SAIPEM, MAIRE TECNIMONT

Maire Tecnimont is looking at the onshore business of the oil contractor and has started a due diligence of Saipem's business unit, Il Giornale said.

SARAS,ROSNEFT

Russia's Rosneft has placed a 9 percent stake in Italian refiner Saras at 1.9 euros per share, a market source said on Monday. Earlier on Monday the Russian energy giant announced plans to sell a 9 percent stake in the refiner via bookbuilding, adding it would retain a 12 percent stake.

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

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

20 biggest losers (in percentage).............

FTSE IT allshare index

FTSE Mib index........

FTSE Allstars index...

FTSE Mid Cap index....

Block trades..........

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

For pan-European market data and news, click on codes in brackets: European Equities speed guide................... FTSEurofirst 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurofirst 300 sectors................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones............... Wall Street report ..... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt market stories CAC-40................. Paris market stories... World Indices..................................... Reuters survey of world bourse outlook......... Western European IPO diary.......................... European Asset Allocation........................ Reuters News at a Glance: Equities............... Main currency report:...............................

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