May 7, 2018 / 4:00 AM / 3 months ago

CORRECTED-Italy - Factors to watch on May 7

(Corrects conversion of 69.94 billion rupees to 870 million euros, not 87 million euros) 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 .

POLITICS

The leaders of the centre-right alliance are due to meet in the morning before a third and possibly final round of formal consultations with President Sergio Mattarella aimed at ending a political deadlock that has dragged on for more than two months.

The League party has yet to respond to a last-ditch offer made on Sunday by the anti-establishment 5-Star Movement leader, Luigi Di Maio.

In a bid to convince the League to form a coalition government with 5-Star, Di Maio dropped his demand that he be made prime minister. But Di Maio continued to insist that Salvini abandon his centre-right ally, former prime minister Silvio Berlusconi.

ECONOMY

ISTAT releases monthly bulletin on the state of the economy in April (0800 GMT).

DEBT

Treasury announces sale of 12-month BOT bills, with relative amounts to be auctioned on May 10.

TELECOM ITALIA

U.S. hedge fund Elliott pulled off a boardroom coup at Telecom Italia on Friday, wresting control away from French media group Vivendi as the fund embarks on a campaign to shake up slumbering companies across Europe.

TIM’s new board will meet Monday to appoint a new chairman and a chief executive. Fulvio Conti is the most likely candidate for chairman, while the big question regards Amos Genish and whether he will accept to become chief executive, a role he held before the board overhaul.

Italy’s caretaker government will go ahead with a fine against the company for not having been informed of Vivendi’s move to acquire an asset considered of strategic interest to the state, Il Sole 24 Ore said over the weekend. (*) TIM boss Genish has sent an email to the group’s employees over the weekend to say he expects the new board to support the company’s business plan, Il Corriere della Sera reported on Monday. Conti is due to meet with the government committee responsible for the “golden power” to discuss the appointments of several executives to the seats relevant for the national security, the daily added.

(*) TELECOM ITALIA, MEDIASET

The broadcaster and TIM will likely announce a deal on content this week, Il Sole 24 Ore said on Sunday.

(*) FINCANTIERI

Talks between the Italian company and French Naval group are expected to close by the end of June, Il Sole 24 Ore said on Sunday.

(*) BANCO BPM, UBI BANCA, BPER

After the deal between Intesa Sanpaolo and Intrum on the bank’s bad loan platform, Banco BPM, UBI Banca and BPER could decide to sell their own recovery businesses, Affari&Finanza/La Repubblica said on Monday. Several servicers have sounded out Banco BPM to buy its platform, the newspaper added.

(*) ASTALDI

Reliance Infrastructure says Co’s JV with Astaldi has won an EPC contract for Versova-Bandra Sea Link Project with a value of 69.94 billion rupees (around 870 million euros).

(*) JUVE, AS ROMA, LAZIO

After winning the match against Bologna, Juve is very close to win the Serie A championship. Roma has defeated Cagliari on Sunday. Lazio drew with Atalanta.

(*) CENTRALE DEL LATTE ITALIA

The dairy group aims to boost its sales outside Italy to 20 percent of the total from 1 percent in the newxt few years, Chairman Luigi Luzzati told Affari&Finanza/La Repubblica on Monday.

MONTE DEI PASCHI DI SIENA

The bank said on Friday the sale of its NPL recovery platform “Juliet” would be completed by the end of this month.

ENEL, A2A, ERG

Solar power producer Sonnedix and a consortium of Italian utility Enel and infrastructure fund F2i are among at least six bidders that have submitted tentative offers for one of Italy’s largest collection of solar assets, sources said. Italian energy companies ERG and A2A have also presented preliminary offers for the asset put in sale by Terra Firma, the sources said on Friday.

INTESA SANPAOLO

Sweden’s Intrum Justitia’s bid for Intesa’s debt collection is likely to receive regulatory approval and begin officail operations in November, Il Sole 24 Ore said on Saturday.

POSTE ITALIANE

Fitch Ratings has affirmed Poste Italiane’s long-term issuer default rating (IDR) at ‘BBB’ and its short-term IDR at ‘F2’. The Outlook is stable.

SAIPEM

Moody’s has affirmed Saipem’s Ba1 rating with stable outlook.

EDISON

The group said it swung to a profit of 42 million euros in Q1 from a 19 million euros loss a year ago.

BOMI ITALIA

Starts capital increase, ends on May 24.

NOVA RE

Reverse stock split on ordinary shares.

ROSSS

Annual general meeting (0630 GMT).

SORGENIA

News conference to present FY results and new advertising campaign with CEO Gianfilippo Mancini (0830 GMT).

Board meetings on Q1 results: BANCO DI SARDEGNA, BPER BANCA followed by conference call (1600 GMT), CERVED INFORMATION SOLUTIONS followed by conference call (1600 GMT), ELICA followed by conference call (1300 GMT), FINCANTIERI, ITALGAS (press release on May 8), KI GROUP, PRIMA INDUSTRIE, RISANAMENTO, SALVATORE FERRAGAMO followed by conference call (1600 GMT), VALSOIA.

Trade ex-dividend: AEROPORTO DI BOLOGNA of 0.392 euro per share; AQUAFIL of 0.24 euro per ordinary and ‘B class’ shares; ASCOPIAVE of 0.18 euro per share; BANCA SISTEMA of 0.086 euro per ordinary share; BENI STABILI of 0.033 euro per share; BIESSE of 0.48 euro per share; CEMBRE of 0.80 euro per share; EQUITA GROUP of 0.22 euro per share; GAMENET GROUP of 0.60 euro per share; GEFRAN of 0.35 euro per share; GPI of 0.30 euro per share; HEALTH ITALIA of 0.082 euro per share; INIZIATIVE BRESCIANE of 0.60 euro per share; ITALIAONLINE of 30.00 euro per saving share as preferred dividend; ITALMOBILIARE of 0.55 euro per share; LU-VE of 0.22 euro per share; MITTEL free assignment of one ordinary share every 13 ordinary shares owned as extraordinary dividend; NOTORIOUS PICTURES of 0.0543 euro per share; ORSERO of 0.12 euro per share; PHARMANUTRA of 0.33 euro per share; REPLY of 0.35 euro per share; RETELIT of 0.020 euro per share; SIT of 0.25 euro per share; TXT E-Solutions of 1.00 euro per share; VALSOIA of 0.33 euro per share; VITTORIA ASSICURAZIONI of 0.28 euro per share, WIIT of 0.83 euro per share.

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 = 67.1100 Indian rupees)

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