February 23, 2018 / 5:00 AM / 4 months ago

Italy - Factors to watch on Feb. 23

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 .

DEBT

Italy’s Treasury sells zero-coupon and inflation-linked bonds.

The Treasury said on Thursday it would offer 5.75-7.75 bln euros in bonds, including a new March 2023 issue, at auction on Feb. 27.

TELECOM ITALIA

Telecom Italia has chosen Goldman Sachs and Credit Suisse to work on the spin-off of its network, three sources told Reuters. (*) The planned content joint venture between Telecom Italia and Vivendi’s pay-TV unit Canal+ has fallen through, Il Sole 24 Ore and Il Messaggero reported. TIM will ratify the decision at the board meeting of March 6 called on its strategic plan. The mediation hearing between Mediaset and Vivendi scheduled for Feb. 26 has been cancelled, Il Sole 24 Ore said.

(*) BANKS

The EU is ready to mitigate the impact of writedowns for banks, Il Messaggero said, citing an 18-page draft proposal on non-performing loans drawn up by the Commission. Writedowns on unsecured loans are still to be done in 2 years but those on secured loans are to be booked over 8 years rather than 7. For unsecured loans writedowns should be to the tune of 35 percent in the first year and 65 percent the second. For secured loans the writedown should be 15-18 percent in the first 5 years, gradually increasing in years 6-8, it said.

TELECOM ITALIA, RAI WAY

Infrastructure fund F2i and tower company Rai Way have increased a joint offer of around 250 million euros they made for Telecom Italia’s TLIT.MI majority-owned broadcasting unit Persidera, two sources said on Thursday.

ENI

Italy’s Eni will probably have to move a drilling ship blocked by Turkey off Cyprus, but will not relinquish its interests in the area, the oil major’s CEO said on Thursday.

(*) TXT E-SOLUTIONS

E-Business Consulting has sold 25.62 percent of the capital to Laserline Spa for 35 million euros at 10.50 euros per share.

GEOX

Board meeting on FY results (preliminary FY results on Jan. 18) followed by conference call (1630 GMT)

INTESA SANPAOLO

Board meeting on FY results (preliminary FY results on Feb. 5)

ALERION CLEAN POWER

Board meeting on FY results.

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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