June 21, 2019 / 4:03 AM / a month ago

Italy - Factors to watch on June 21

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 .

POLITICS

Deputy Italian Prime Minister Matteo Salvini on Friday vowed to quit the government unless he was able to push through tax cuts for at least 10 billion euros ($11 billion).

DEBT

Treasury announces sale of six-month BOT bills, with relative amounts to be auctioned on June 26.

The Treasury said on Thursday it would offer up to 2.25 billion euros in zero-coupon bonds at auction on June 25 and up to 1 billion euros in two 10- and 30-year BTPei bonds.

TELECOM ITALIA (TIM), ENEL

The two companies said on Thursday they had signed a non-disclosure agreement, along with state lender CDP, to kick off talks on ways of integrating TIM’s fibre optic network with that of smaller rival Open Fiber, including a possible merger. (*) Telecom Italia’s advisers have valued Open Fiber at 2.2-2.8 billion euros including debt, la Repubblica said, adding Enel is looking to cash out. The paper said the TIM CEO had a Plan B of pressing ahead alone if it can’t buy CDP’s 50% stake in Open Fiber at a fair price. (*) The idea of merging TIM’s Flash Fiber unit with Open Fiber has come back to the fore, MF said. Flash Fiber, 20% owned by Fastweb, is worth around 1.1 billion euros, it said.

ATLANTIA

The Italian infrastructure group, backed by the Benetton family, has hired Goldman Sachs and Mediobanca to sell a 30% stake in its toll-road payment unit Telepass as it seeks to pay down debt and fund growth after buying Spain’s Abertis, five sources said.

Extra revenues from greater traffic volumes on motorways will mean lower tolls with a mechanism of premiums and penalties to boost efficiency, Il Messaggero said, citing a reform drawn up by the sector’s regulator.

(*) BANCA CARIGE

The bank’s top investor Malacalza has attacked the troubled bank’s three commissioners over the interest of Apollo, Il Messaggero said.

(*) FIAT CHRYSLER

FCA confirmed its 5 billion euro investment plan in Italy and full employment at its plants to 2022, Il Sole 24 Ore cited the Turin mayor as saying after a meeting with Fiat management. But production at its Mirafiori and Grugliasco plants has almost halved compared to last year, it said.

ASSICURAZIONI GENERALI

The insurer said on Thursday a special stock plan for CEO Philippe Donnet was subject, among other conditions, to achieving a maximum increase of 46% in total shareholders return in the three years to June 20, 2022 and a maximum 8% CAGR in earnings per share growth in 2019-2021.

WIIT

The Italian IT company said on Thursday it agreed to buy 100% capital of Matika to strengthen its presence in North-East region of Italy.

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:............................... ($1 = 0.8857 euros)

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