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Italy - Factors to watch on Dec. 19
December 19, 2016 / 5:05 AM / in 10 months

Italy - Factors to watch on Dec. 19

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 .

COMPANIES

BANCA MONTE DEI PASCHI DI SIENA

The troubled lender will offer new shares for sale between Monday and Thursday in a last ditch attempt to raise 5 billion euros ($5.2 billion) by the end of the year and avoid a state bailout.

The Italian Treasury, which has 4 percent of the bank, is ready to take part in the lender’s 5 billion euro capital increase, taking “a significantly higher stake”, avoiding state aid rules, La Stampa said on Saturday. (*) The Treasury could spend up to 700 million euros to take part in Monte dei Paschi’s cash call and help the lender complete its privately-funded capital raising plan, La Stampa said on Monday.

The bank’s board is expected to hold an extraordinary meeting in Milan on Monday. It will meet again on Friday in Siena to assess the outcome of the this week’s offer. (*) A Chinese fund has approached the Tuscan lender over a potential investment worth between 300-500 million euros, Il Sole 24 Ore reported on Monday.

(*) POSTE ITALIANE

The Italian post office could buy into Monte dei Paschi’s cash call, La Repubblica reported on Monday citing financial sources.

Poste and Anima Holding could be interested in buying asset manager Aletti Gestielle from Banco Popolare, Mediobanca Securities analyst Gianluca Ferraris told La Repubblica’s Affari & Finanza on Monday.

(*) ITALIAN BANKS

The government is ready to ask parliament for a green light to increase public debt in case it needs to grant state aid to Monte dei Paschi and other small banks, several Italian newspaper said. The government will likely earmark 15 billion euros to help ailing banks.

MEDIASET, VIVENDI

Vivendi denied on Saturday it was planning to take over Mediaset after buying a fifth of the Italian broadcaster in a move that has riled the government and stoked an ongoing row between the companies over a pay-TV deal.

Mediaset said on Saturday there were no talks under way with Vivendi after the two CEOs met on Friday. It confirmed its job was to look after the best interests of the company and all its shareholders, not just those holding 20 percent.

Mediaset chairman Fedele Confalonieri reiterated on Saturday that the Vivendi move was hostile.

Industry Minister Carlo Calenda has told the head of Vivendi hat Rome is unhappy with the French media company’s hostile stake-building in Italian broadcaster Mediaset, a source close to the matter said.

Several newspapers said on Saturday Fininvest was looking into the idea of having Vivendi’s 20 percent stake in Mediaset seized on grounds the French group’s behaviour in recent months depressed shares allowing it to buy in cheaply.

LEONARDO-FINMECCANICA

Italy’s highest court on Friday ordered a re-trial of former top executives at defence group Leonardo Finmeccanica over allegations of bribery in a 2010 contract to provide a dozen helicopters to the Indian government.

TELECOM ITALIA

Telecom Italia said on Saturday reports on a return to paying a dividend were “completely unfounded”

The telecoms group said on Friday it had decided to start producing premium content for ultra-band in an effort to win more fibre clients with a wider product offer.

(*) PIQUADRO

The group could look at a new acquisition in the second half of next year, Piquadro CEO told CorrierEconomia on Monday.

UBI BANCA

UBI could sign by the end of the week the deal to buy three of the four small banks Italy rescued from bankruptcy in November 2015, Il Sole 24 Ore reported on Sunday, adding the bank’s supervisory and management board could meet in the first half of the week. UBI would raise 400-500 million euros in a share issue to support the acquisition and Italy’s resolution would put another 200-300 million euros.

ITALMOBILIARE, EDISON

Infrastructure fund F2i will partner with the Pesenti family’s holding company Italmobiliare in the 1 billion euro investment needed to take a 20-25 percent stake in energy group Edison, Il Sole 24 Ore reported on Sunday. The consortium should be equally controlled by both partners but F2i’s stake could also be slightly bigger, the paper said.

ENEL

A board meeting on Monday is set to call a shareholder meeting for Dec. 20-22 to approve the planned merger of Enel Open Fiber and Metroweb, Il Sole 24 Ore reported on Sunday.

BANCA POPOLARE DI VICENZA

The Italian bank on Friday the European Central Bank had asked it to improve its liquidity position and assess all options to cut its stock of bad loans as it readies a new business plan.

Veneto Banca said on Friday the European Central Bank had lifted the minimum requirement for a key liquidity indicator at the regional bank and asked it to cut its problem loans.

BANCA POPOLARE DI SONDRIO

Shareholders in the cooperative bank could meet again mid-January to vote its transformation into a joint-stock company, Il Sole 24 Ore reported on Sunday, adding the lender may try to set a up a holding company with a cooperative status.

GRUPPO WASTE ITALIA

Ordinary shareholders’ meeting (1000 GMT).

PREMUDA

Ordinary and extraordinary shareholders’ meeting.

STMICROELECTRONICS

Trades ex-dividend of 0.06 U.S. dollars as quarterly dividend.

TE WIND

Ordinary and extraordinary shareholders’ meeting.

Bourse After Hours market closed.

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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