December 23, 2016 / 7:24 AM / 10 months ago

Italy - Factors to watch on Dec. 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

Treasury announces sale of BTP and CCTeu bonds, with relative amounts to be auctioned on Dec. 29.

The Treasury said on Thursday it would offer 6.5 billion euros in six-month BOT bills at auction on Dec. 28.

Italy’s Treasury said on Thursday it faced higher debt redemptions next year compared to 2016 under tougher market conditions due to less expansionary monetary policies and political developments in Italy.

COMPANIES

MONTE DEI PASCHI DI SIENA

The board of Monte dei Paschi approved a request for state aid on Friday after declaring a failure its plan to raise 5 billion euros ($5.2 billion) from investors.

The Italian government approved a decree early on Friday setting up a 20 billion euro fund to help ailing lenders and opening the way for the rescue of Monte dei Paschi. (*) Trading in Monte dei Paschi shares, derivatives and 10 bonds has been suspended Friday, the Italian bourse said. (*) The bank’s board will remain in place, the business plan will be along the same lines as the present one and a partner will be sought within 18 months at most allowing the Treasury to exit, Il Sole 24 Ore said. The bank will probably close more branches and introduce more early retirements, it said, adding the securitisation of bad loans could be delayed to the end of the first quarter.

MEDIASET

Vivendi raised its stake in Mediaset further on Thursday, to 28.8 percent, while Italian politicians voiced their concerns over what the French media group’s intentions might be regarding the Italian TV broadcaster.

TELECOM ITALIA

The Italian government is considering a plan for state lender Cassa Depositi e Prestiti (CDP) to buy a stake in Telecom Italia to counter the ambitions of French businessman Vincent Bollore, La Stampa daily said on Friday. (*) Bollore could ask for the size of the Telecom Italia board to be reduced to 11 from 16 at the next shareholder meeting to strengthen Vivendi’s grip on the group, MF said.

UNICREDIT

Italy’s biggest bank said on Thursday it had picked the bookerunners of its upcoming 13 billion euro share issue.

(*) UNIPOL, BANCO POPOLARE

Talks over renewal of the bancassurance agreement between the two companies have been put on hold till January, Il Sole 24 Ore said.

(*) BANCA CARIGE

The bank’s board met on Thursday to confirm the aim of selling a first tranche of sour loans up to 1.4 billion euros, Il Sole 24 Ore said.

(*) FIAT CHRYSLER

The EU has said a second meeting between Germany and Italy over Dieselgate will be held soon, MF said.

STEFANEL

The ailing clothing retailer said on Thursday it had received a non-binding expression of interest from Oxy Capital Italia and Attestor Capital as part of a plan to relaunch the group via a debt restructuring and a capital injection.

POPOLARE EMILIA ROMAGNA

The Italian bank said on Thursday it had completed a 150 million euro bad loan sale.

ALERION CLEAN POWER

A mandatory buyout offer by Eolo Energia starts on Friday and is set to run until Jan. 16.

M&C

M&A said on Thursday it had signed an accord to buy a 23.5 stake in Gruppo Treofan from ELQ Investors and a further 22.6 percent stake from Mercedes Partners raising its overall stake to 87.7 percent.

EXPRIVIA

The company said on Thursday it had reach a preliminary deal to take a majority stake in Italtel.

PARMALAT

Parmalat said on Thursday it would receive 16 million euros under a settlement deal it had reached with Tetra Pak in order to drop any claims related to the dispute.

ALITALIA

Italy’s Alitalia has approved a short-term financing deal and a new industrial plan that will include job cuts, it said on Thursday, as the loss-making flagship carrier steps up efforts to sustain its business.

Bourse After Hours market closed.

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