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Italy - Factors to watch on March 9
March 9, 2016 / 5:02 AM / 2 years ago

Italy - Factors to watch on March 9

The following factors could affect Italian markets on Wednesday.

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 monthly bulletin on the state of the economy in February (0900 GMT).

Bank of Italy releases January data on bank lending and domestic government bond holdings at Italy-based banks.

DEBT

Italy’s Treasury said on Tuesday it would offer 6.0-7.5 billion euros over 3 bonds at an auction on March 11.

COMPANIES

BANCO POPOLARE, BANCA POPOLARE DI MILANO

The heads of Banco Popolare and Banca Popolare di Milano will hold a crunch meeting with regulators at the European Central Bank on Wednesday to try to overcome hurdles to a planned merger to create Italy’s No. 3 bank, sources said. (*) According to Corriere della Sera, representatives from the Bank of Italy will also be attending the meeting in Frankfurt.

TELECOM ITALIA

Telecom Italia said on Tuesday it had completed the much-anticipated sale of its stake in Telecom Argentina TEC2.BA to investment group Fintech, with the total amount generated by the disposal confirmed at over $960 million.

Orange Chief Executive Officer Stephane Richard has said he might look into the possibility of a merger deal with Telecom Italia if French billionaire Vincent Bollore invited him to, but does not think that would happen.

Vodafone and Wind were due to meet with representatives of Metroweb’s shareholders on Tuesday to discuss their potential role as clients of the ultrafast broadband that could emerge from the yet-to-be-finalised agreement between Metroweb and Telecom Italia, two sources close to the matter said. A third source added that the talks were of an exploratory nature.

France and Italy want to cooperate in key industrial sectors, including telecoms, and create major companies that can compete at a European level, French President Francois Hollande said on Tuesday.

(*) INWIT, EITOWERS, MEDIASET

Mediaset’s unit EI Towers is favourite to win a bidding war for Telecom Italia’s telecom tower group Inwit according to Il Messaggero newspaper, having improved its offer at 5 euros per share for a 25 percent stake.

As part of the deal, Inwit will buy 1,000 towers owned by EI Towers for around 200 million euros, Il Messaggero reported. Inwit’s board meets on March 11 to approve its 2015 accounts and could finalise a non-binding offer for the towers then. Telecom Italia’s board meets on March 17 to examine offers for Inwit.

(*) TELECOM ITALIA, MEDIASET, VIVENDI , TELEFONICA

Contacts are intensifying between Vivendi and Mediaset over a possible content alliance that could also involve the Spanish group, Il Sole 24 Ore said.

ENEL

The energy watchdog approved on Tuesday the characteristics of the new generation of smart metres that can be rolled out to Italian homes. The move could pave the way for Enel to roll out its second-generation metres, as planned, and offer infrastructure space to lay fibre optic cable to build out a fibre-to-home broadband network.

YOOX-NET-À-PORTER

Board meeting on FY results (preliminary on Feb. 8), followed by conference call.

BANCA POPOLARE DI VICENZA (IPO-BPVS.MI)

Italy’s antitrust authority said on Tuesday it had opened an investigation into Banca Popolare di Vicenza for possible unfair practice, citing evidence it had twinned the sale of mortgages and loans with other financial instruments.

SEAT PAGINE GIALLE

The Shareholders of Seat Pagine Gialle and of Italiaonline approved the merger by reverse incorporation of Italiaonline into Seat.

ANSALDO STS

A consortium made up of Ansaldo STS and Stadler won contracts to modernize Glasgow’s subway, with Ansaldo’s share of the contract worth 104.3 million pounds.

MONCLER

Societe Generale has raised the target price on the stock to 17.5 euros from 16 euros.

ASTALDI

Board meeting on FY results.

CATTOLICA ASSICURAZIONI

Board meeting on FY results.

DEA CAPITAL

Board meeting on FY results.

DIASORIN

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

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