October 11, 2017 / 4:01 AM / 8 days ago

Italy - Factors to watch on Oct. 11

The following factors could affect Italian markets on Wednesday.

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 Italian government called on Tuesday for confidence votes in the lower house of parliament to try to force through an electoral law that is likely to penalise the anti-establishment 5-Star Movement.

DEBT

Treasury sells 6.5 billion euros 12-month BOT bills. Subscriptions close at 0900 GMT.

COMPANIES

(*) BANKS

The EU Commission will present on Wednesday measures it plans to put forward by next spring on reducing bad bank loans. A draft of the document to be released on Wednesday said the Commission could propose changing banking rules “with regard to the possible introduction of minimum levels of provisioning which banks must make for NPLs”.

MEDIASET, VIVENDI, TELECOM ITALIA

French media group Vivendi has offered to pay compensation to Mediaset to settle a dispute with the Italian broadcaster over a soured pay-TV deal, three sources close to the matter said on Tuesday.

One of the sources said Vivendi would pay a first tranche of 250 million euros as part of a wider tentative agreement. The person said more money would be paid at a later stage, but did not quantify the amounts.

One of the other two sources said Mediaset could join a joint venture being set up between Vivendi’s own pay-TV arm Canal+ and Italian phone group Telecom Italia.

(*) Il Sole 24 Ore cited Mediaset sources as telling news agency ANSA “there was nothing new in the relationship between the two parties”.

ATLANTIA, ABERTIS

Atlantia’s 17 billion-euro ($20 billion) bid for Spain’s Abertis is set to win EU approval, sources said on Tuesday, clearing another hurdle to getting the long-awaited deal done unless a counter-bid emerges.

Funds managed by TCI Fund Management, owning almost 2.7 percent of Spain’s Abertis shares, said they “strongly support” Atlantia’s offer for Abertis.

Abertis said the Spanish market regulator CNMV had set acceptance period in Atlantia’s bid on Abertis from Oct. 10-24.

BANCA CARIGE, INTESA SANPAOLO, GENERALI

Deadline to take up Banca Carige’s debt swap offer on best terms (1400 GMT).

Two major creditors of Banca Carige have taken up a debt exchange offer which is a key plank of the troubled Italian bank’s capital raising efforts, sources close to the matter said.

(*) INTESA SANPAOLO, MEDIOBANCA

MBCredit Solutions and Lindorff/Intrum Justitia are vying for a 600 million euro bad loan portfolio Intesa Sanpaolo has put for sale, MF reported. Intesa wants to finalise quickly the sale, dubbed project Sherazade, which concerns consumer and other unsecured loans.

(*) BANCO BPM, UNIPOL GRUPPO FINANZIARIO, CATTOLICA ASSICURAZIONI

Unipol does not want to give bidders Covea and Cattolica access to the financial data of Popolare Vita, its soon-to-be-ended joint-venture with Banco BPM, until regulators have approved its break-up, Il Sole 24 Ore reported. This may delay Banco BPM’s plan to find an alternative “bancassurance” partner as the arbitrator appointed to value the joint-venture will only decide in the second half of November.

IPOs

State agency Cassa Depositi e Prestiti would like to list its AnsaldoEnergia and SIA units on the stock exchange in the first half of next year, MF reported.

SNAM, SAIPEM

Italy’s constitutional court said in a statement it had rejected the Puglia region’s request to revoke the concession for building the TAP gas pipeline.

SNAM

The company successfully launched a bond issue for 650 million euros under its EMTN programme.

CAIRO COMMUNICATION

Chairman Urbano Cairo attends news conference to present “18th Cairo Prize” in Milan (1000 GMT).

PIERREL

Board meeting to approve abbreviated FY results to June 30, 2017.

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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