February 16, 2018 / 7:51 AM / 10 months ago

Italy - Factors to watch on Feb. 16

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

ENI (*) The Italian oil major signalled on Friday it could create “substantial surplus value” for shareholders in the future after profits in the fourth quarter more than doubled, beating market expectations.

A Nigerian court has set a hearing over a disputed 2011 oilfield deal for June 18, the country’s financial crimes watchdog said on Thursday, part of a string of international corruption probes into the purchase. The case relates to a purchase of the offshore OPL 245 oilfield in Nigeria by oil majors Royal Dutch Shell and Eni in 2011.

(*) FIAT CHRYSLER

The carmaker is expected to discuss a plan to list Magneti Marelli unit at a board meeting to be held in the next 10 days at latest, Il Sole 24 Ore and Corriere della Sera reported. Fiat Chrysler could put on the market 50 percent of the unit, Il Sole 24 Ore said, adding the unit could have a value of 6 billion euros.

The carmaker and Credit Agricole has signed a deal to extend their joint venture Fca Bank to the end of 2022, several newspapers said.

(*) AUTOGRILL

The travel caterer has contacted investment banks about a potential sale of the group’s Italian business in the coming months, Italian daily MF said, citing Carlyle, KKR and Blackstone among potential suitors.

(*) LEONARDO

The group CEO Alessandro Profumo denied he could move to Italian state lender Cassa Depositi e Prestiti, Il Sole 24 Ore said citing a speech of Profumo to Leonardo’s executives.

TELECOM ITALIA

Italy’s Antitrust authority said on Thursday it was investigating Italy’s TIM, Vodafone, Fastweb and Wind Tre on suspicion of operating anti-competitive billing practices.

The phone group said it had always complied with existing regulation and that it categorically ruled out any coordination of its commercial strategy with other operators with regards to billing rules.

TIM’s top investor Vivendi on Thursday said it supported TIM’s management under the leadership of CEO Amos Genish and that it is having “positive” discussions with Italy’s government over the use of the so-called “golden powers” on TIM.

(*) TELECOM ITALIA, GEDI, RAYWAY

The group has received only an offer for its Persidera unit, La Stampa reported adding the bid was filed by a consortium comprising F2i and RaiWay and had a value well below the 350 million euros targeted by Telecom Italia.

(*) SNAM

The European Bank for Reconstruction and Development (EBRD)could present an offer for Greece’s Desfa together with Reganosa and Transgaz, Il Sole 24 Ore reported.

The Trans-Adriatic Pipeline (TAP) is crucial for European energy security, its creation is at an advanced state and “not a thing can be changed”, EU Commission Vice President Maros Sefcovic said in an interview with Il Messaggero. Sefcovic added that the pipeline is “safe, has no impact on the environment and supports Europe’s de-carbonisation process.”

(*) TOD’S

Chairman Diego Della Valle said that his family had no intention of selling the business, in an interview with the Financial Times. Della Valle added that so-called Millenials - young consumers - “are a marvellous thing, but not for everyone, and certainly not all the time” as the group focuses on its more classical looking products. (*) GENERALI

Financial conglomerate China Tianying is among the investors interested to buy the Portugal business of the Italian insurer, Il Sole 24 Ore said citing Dealreporter.

(*) IPO

Tech-insurance group Octo Telematics aims to list on Milan stock exchange before the summer, Il Sole 24 Ore said, adding Barclays and UniCredit could join Mediobanca, Citi and Goldman Sachs as advisers for the IPO.

MEDIASET

Vivendi’s CEO said on Thursday the group still hopes to find an agreement with the Italian broadcaster.

EXOR

The group said on Thursday it privately placed a 200 mln euro non-convertible bond to refinance its short-term debt.

BB BIOTECH

Board meeting on FY results (preliminary results on Jan. 19).

ZUCCHI

Saving shareholders’ meeting (1400 GMT).

ALITALIA

Transport Minister Delrio said on Thursday there weren’t the conditions to sell the airline “in this moment” and that the government would continue to work in that direction. (*) Air France KLM, Easyjet, Delta and Cerberus have joined forces to present an offer for the Italian carrier, several newspapers said, adding the consortium could meet special commissioners on the sale of Alitalia next week.

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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