December 1, 2017 / 7:44 AM / 15 days ago

Italy - Factors to watch on Dec. 1

The following factors could affect Italian markets on Friday.

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 Q3 GDP final data (0900 GMT).

Markit/ADACI releases November PMI manufacturing (0845 GMT).

Transport Ministry releases November car sales data (1700 GMT)

November state sector borrowing requirement data.

COMPANIES

SAIPEM

The oil services group said on Thursday it had signed a new offshore contract in Saudi Arabia and won additional works on existing contracts in West Africa for a total of $400 million.

POSTE ITALIANE

The Italian post office said on Thursday it had signed a new labour contract granting employees an individual monthly pay rise of 103 euros.

BANCA CARIGE

The rights to buy into the bank’s cash call closed down 70 percent on the last day in which they could be traded on the Milan bourse.

(*) MEDIOBANCA

The bank launches on Friday its Mediobanca Private Banking unit after the acquisition of Banca Esperia, several dailies report. The goal is for the unit to have a revenue of 120 million euros by the end of 2019, the reports add.

(*) BANCA GENERALI

Efforts to buy a Swiss bank specialised in private banking are speeding up, Il Sole 24 Ore reported, adding that the insurer has given official mandate to KPMG.

(*) BANCA POPOLARE DI SONDRIO

There are still some governance problems with the lender regarding its transformation into a limited company and on this subject management is unclear, adopting too much of a “wait and see” policy, Joseph Oughourlian, founder of fund Amber Capital, said in an interview with Il Sole 24 Ore.

(*) MEDIASET

The TV group is in pole position for winning the broadcasting rights for the Russia 2018 soccer world championship, Il Sole 24 Ore reported, citing market indiscretions, and adding that a result should be announced in the next days.

Management has made important steps cutting costs but has not re-thought the company’s business model, said Joseph Oughourlian, founder of fund Amber Capital, which holds a stake in Mediaset. In an interview with Il Sole 24 Ore, Oughourlian added that Mediaset has been adopting too much of a “wait and see” policy regarding its legal battle with Vivendi, which however will sooner or later have to pay Mediaset back for not respecting their pay-TV deal.

(*) TELECOM ITALIA (TIM)

Lawyers for the company, from legal firm Bonelli Erede, are working to appeal the government’s decision on golden power to the country’s head of state, Il Messaggero reported. This appeal, formally addressed to the head of State but effectively decided by the State Council, would be an alternative to the one already filed to the regional administrative court, the report added.

The current strategy adopted by majority stakeholder Vivendi is not clear, Joseph Oughourlian, founder of fund Amber Capital, said in an interview with Il Sole 24 Ore.

(*) SALVATORE FERRAGAMO

The company is being renewed and with the new collection, expected in May, the results of the group’s relaunch will be seen, chairman Ferruccio Ferragamo told la Repubblica in an interview. Ferragamo reiterated that he is not interested in selling the luxury group, nor are any other members of his family intending to sell their stakes.

SALINI IMPREGILO, ASTALDI

A consortium comprising Salini Impregilo and Astaldi has won an 186 million euro contract to expand a section of Palermo-Catania railway line.

IL SOLE 24 ORE

The troubled Italian publisher said on Thursday it had signed with a group of banks financing contracts for credit lines worth in aggregate 30 million euros maturing at the end of 2020. It also said underwriters had bought newly-issued shares for 4 million euros, or 8 percent of the new stock offer, on Thursday.

The group said its net debt as of Oct. 31 was of 66.7 million euros.

(*) ALITALIA

As part of negotiations with Lufthansa, the state-appointed commissioners have discussed with the German airline on Thursday the future role of Italian airports in a potential new industrial plan for the national carrier, Il Sole 24 Ore reported.

The commissioners are discussing in depth with Lufthansa the German airline’s business plan for the Italian carrier, which has still not been formally deposited, il Messaggero reported. It added that it is Lufthansa’s intention to close the negotiations soon, before Italy’s national elections.

(*) BANCA IFIS

The lender, U.S fund Cerberus and a third investor are in the run to buy a 2 billion euro bad loan portfolio for the former Delta financial group, MF reported.

(*) PIQUADRO

The leather goods group intends to make new acquisitions, its president and CEO Marco Palmieri told MF in an interview, adding he is looking for a “historical brand, with a strong identity”.

ALERION CLEAN POWER

FRI-EL Greenpower takeover offer on Alerion Clean Power shares ends.

GIGLIO GROUP

Ordinary shareholders’ meeting (1030 GMT).

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

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