October 16, 2017 / 4:01 AM / a month ago

Italy - Factors to watch on Oct. 16

The following factors could affect Italian markets on Monday.

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

Cabinet expected to meet on budget law.

Italy’s cabinet on Friday passed a decree to force investors that build up minority stakes of at least 10 percent in Italian listed companies to disclose what their intentions are on final ownership.

COMPANIES

TELECOM ITALIA

Italy’s communications regulator is considering whether it could force Telecom Italia (TIM) to put its fixed-line network into a separate company to address competition concerns, three sources close to the matter said.

(*) Industry Minister Carlo Calenda prefers a spin-off of the fixed-line network to a sale to state lender Cassa Depositi e Prestiti, the minister said during a TV interview on Sunday, la Repubblica reported. The minister will meet Telecom Italia CEO this week, la Repubblica added.

(*) The government wants to set up an independent authority to oversee the use of the network, la Repubblica reported on Monday, adding the government will appoint some of the board members of Telecom Italia’s units Sparkle and Telsy.

(*) The most likely solution to the issue posed by the prominent role of a foreign investor in Telecom Italia will be for the government or Italy’s communications authority to appoint some of the board members at Telecom Italia Sparkle and Telsy, Il Messaggero reported on Monday. Alternatively, an advisory board could be created to oversee both Sparkle and Telsy, the paper said.

(*) The Financial Times on Monday cited a person with knowledge of the situation as saying “the prospect of a network separation had grown more serious in recent weeks.” The network could be merged with that of Open Fiber to form “a national champion,” the person said.

The FT also quoted a senior executive at TIM as saying “the new management team was ‘extremely opposed’ to a split of the company, something that had been considered and rejected. In the absence of a ‘20 billion euro cheque’, TIM is working on a different strategy”.

FIAT CHRYSLER

Fiat Chrysler Automobiles NV said on Friday it is recalling 470,000 vehicles worldwide to replace a component that may inhibit deployment of the vehicles’ active head restraints in the event of a crash.

ITALIAN BANKS

The European Central Bank on Friday rejected criticism of its plans to tackle soured bad debt, arguing that the move was both legal and necessary to resolve a nagging problem that has bogged down banks for a decade.

At the centre of the dispute is how best to tackle European banks’ bad loans, which stand at around $1 trillion, a thorny issue, particularly in Italy.

(*) MONTE DEI PASCHI DI SIENA

Italy’s market watchdog is close to approving the prospectus for the re-listing of Monte dei Paschi shares which are expected to resume trading at the end of this week or the start of the following one, Il Sole 24 Ore reported on Sunday. The shareholder meeting due to approve the by-laws is due to meet in mid-December.

(*) DOBANK

Italy’s biggest bad loan specialist will service 30 percent of a 26 billion euro portfolio Monte dei Paschi is hiving off as part of its state rescue, Il Sole 24 Ore reported on Sunday.

ATLANTIA

The Italian toll-road operator is prepared to raise its takeover bid for Spanish rival Abertis to up to about 17.8 billion euros ($21 billion) should a rival offer by builder ACS materialise, three sources close to the matter said.

ENI

The only bidder in Lebanon’s first tender for five offshore energy blocks was a consortium made up of France’s Total , Italy’s ENI and Russia’s Novatek, Minister of Energy and Water Cesar Abi Khalil said on Friday.

(*) AUTOGRILL

The global catering sector is highly fragmented and there is room for M&A, Autogrill CEO Gianmario Tondato told Affari&Finanza/La Repubblica on Monday when asked whether the group was looking at a possible tie-up.

ALITALIA

Italy on Friday extended a bridge loan for airline Alitalia, which is in special administration as state commissioners seek to sell, overhaul or liquidate the carrier.

SAVE

A vehicle sponsored by the Italian entrepreneur Enrico Marchi, the infrastructure funds of Deutsche Bank and InfraVia has increased its stake in the airport operator to 96,4 percent of the share capital following the result of a takeover bid launched by the investment vehicle.

GEQUITY

HRD Italia Srl mandatory full takeover bid on Gequity shares starts (0630 GMT); ends on Nov. 3 (1630 GMT).

REPLY

Starts stock split on ordinary shares.

TECHNOGYM

Chairman Nerio Alessandri attends conference on “Sport e Business” in Milan (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

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:...............................

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below