June 8, 2015 / 2:01 AM / 2 years ago

Italy - Factors to watch on June 8

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

Bank of Italy releases May data on European Central Bank’s funding to Italian banks.

TREASURY

Former Goldman Sachs banker Claudio Costamagna is set to take over as chairman of state holding Cassa Depositi e Prestiti, several newspapers said on Saturday. The job of CEO should go to Fabio Gallia, head of BNP Paribas in Italy, or Marco Morelli, head of BofA-Merill Lynch in Italy. The appointments could come this week.

Treasury announces sale of BTP bonds with relative amounts to be auctioned on June 11.

COMPANIES

ITALIAN BANKS

A government decree that would streamline bankruptcy procedures and allow lenders to deduct loan loss provisions from their tax burden over one year could be discussed at a cabinet meeting on June 9, Il Sole 24 Ore said on Saturday.

* TELECOM ITALIA

The Italian phone company has never discussed a potential merger with France’s Orange, Telecom Italia Chairman Giuseppe Recchi told CorrierEconomia on Monday. Recchi said it was unsure whether a merger would generate any synergies.

BANCA POPOLARE DI MILANO

The bank’s CEO, Giuseppe Castagna, and the head of the supervisory board Piero Giarda have different views on the bank’s M&A strategy, Il Messaggero said on Saturday.

Castagna wants a merger with another cooperative bank - Banco Popolare or Banca Popolare dell‘Emilia Romagna , while the supervisory board backs a buyout of Cassa di Asti and then further deals with Credito Valtellinese and Carige, the paper said.

FINMECCANICA

The reorganisation of the group is expected to be presented to the board by the end of July, and completed this year, Corriere della Sera said on Saturday.

EXOR

The group said in a statement on Saturday it was committed to communicating directly with PartnerRe shareholders regarding its “superior” all-cash binding offer for the company.

BANCA CARIGE

An 850-million euro capital increase starts on Monday with an adjusted reference price for the shares of 1.724 euros, and 3.88 euros for the rights ; ends on June 25.

The bank closed the sale of its insurance units to U.S. fund Apollo, it said on Friday.

In an interview with Il Sole 24 Ore on Saturday, businessman Vittorio Malacalza, whose family holding has 14.9 percent of Carige, said he would buy into the share sale and could increase his stake in the bank to up to 24.99 percent. * The banking foundation that owns a 2 percent stake in the lender will likely cut it to 0.5 percent should the stock rise in the coming days, la Repubblica said in an unsourced report on Monday.

* UNICREDIT

The bank’s head of the Corporate Investment Banking division told CorrierEconomia on Monday that the lender is optimistic about Italy’s economic recovery in Italy as a strong dollar is helping exporters.

PIRELLI

Vittorio Malacalza, whose holding has 6.98 percent of Pirelli, said in an interview with Il Sole 24 Ore on Saturday that he would decide “at the end” whether to tender his shares in a mandatory bid at 15 euros per share which is part of ChemChina’s buyout of the tyre maker.

FININVEST, MEDIASET

The Thai businessman who is set to buy 48 percent of AC Milan from Fininvest will eventually take over the whole soccer club. La Repubblica said on Sunday. It quoted Italian banker Pablo Dana, who advised Bee Taechaubol on the deal, as saying the club will be listed in Hong Kong or Singapore by July-September 2016.

INWIT

Telecom Italia’s tower unit, holds news conference to present IPO with Telecom Italia CEO Marco Patuano, Inwit CEO Oscar Cicchetti (0800 GMT).

AEDES

Starts capital increase; ends on June 25.

JUVENTUS

Chairman Andrea Agnelli holds news conference on closing of sport season 2014/2015 (0730 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

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