October 14, 2019 / 6:32 AM / a month ago

Italy - Factors to watch on Oct. 14

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 .

MEDIASET

Vivendi will thwart the Italian broadcaster’s corporate overhaul if it can prevent it from implementing the approved reverse merger of its domestic and Spanish businesses into Dutch holding company MfE within the six-month deadline imposed by Dutch rules, a source familiar with the matter said.

Vivendi is working with lawyers to free up its Mediaset holding from the trust which binds two thirds of the stake but the process is a lengthy one, sources said. Vivendi could ultimately aim for a buyout offer on Mediaset after its proposal to buy Fininvest’s entire stake at 4.5 euros a share was rejected last summer, Il Sole 24 Ore reported on Saturday.

MEDIOBANCA

French billionaire Vincent Bollore, the second biggest investor in Mediobanca, has thrown his weight behind the Italian bank’s chief Alberto Nagel, who has come under attack by new Mediobanca shareholder Leonardo Del Vecchio.

Ennio Doris told Milano Finanza on Saturday he was very happy with Nagel’s track-record adding that the family could consider increasing their stake to 1% from 0.4% at present.

MEDIOBANCA, GENERALI

Doris also said Mediobanca should hold onto its Generali stake because it had a duty to preserve the Italian identity of the country’s biggest insurer and also because there was no alternative - and equally profitable - investment at present.

(*) BANCA GENERALI

CEO Gian Maria Mossa told La Stampa in interview on Monday the sector needed to consolidate due to pressure on profit margins and the asset manager in the near future would continue to scout - without any rush though - for “small acquisition opportunities that can be self-financed”.

UBI BANCA

It is important and inevitable that banks, just like companies, become bigger in size, UBI board member Pietro Gussalli Beretta said in an interview in Sunday’s Corriere della Sera.

TELECOM ITALIA

Former Bank of Italy Deputy Governor Salvatore Rossi is in pole position to be appointed as the new TIM chairman at a board meeting on Oct. 21, Corriere della Sera and Il Messaggero reported on Saturday. Corriere said also former anti-trust chief Antonio Catricala and veteran manager Innocenzo Cipolletta had been short-listed.

A meeting of the nominations committee has already been called on Monday at 1300, Il Sole 24 Ore said on Sunday.

ATLANTIA

The board of Atlantia, which is in talks on a rescue plan for troubled carrier Alitalia, will meet again on Oct. 15 to discuss the issue, the infrastructure group said on Friday, following a meeting of its directors.

Separately, two sources close to the matter said talks between Atlantia, Ferrovie dello Stato (FS) and other potential investors in the rescue would continue in the coming days to see whether a preliminary deal was possible by Oct. 15.

Lufthansa management will be in Rome on Monday to meet the CEO of FS and top managers at Atlantia over Alitalia, La Stampa said on Sunday.

GEDI

Italian holding company CIR has rejected an offer from veteran businessman Carlo De Benedetti to buy 29.9% of its stake in publishing group Gedi, calling it totally inadequate.

CNH INDUSTRIAL

IVECO, the truck unit of vehicle group CNH Industrial, will invest $4.2 billion worldwide over the next five years, trade unions said on Friday.

INWIT

Vodafone has spun off 10,977 Italian transmission tower sites and all related contracts, as well as 64 employees, into a new company called Vodafone Towers to pave the way for merging those assets into INWIT, Il Sole 24 Ore reported on Saturday citing news agency Radiocor.

(*) ITALIA INDEPENDENT

Founder Lapo Elkann told Corriere della Sera-L’Economia the “contract is ready to hire a manager with finance, restructuring and turnaround skills” to replace CEO Mario Pietribiasi who stepped down last week due to disagreements with the board over strategy.

SESA

The company is aiming for 2 billion euros in revenues in the mid-term and is looking at M&A in Europe, Il Sole 24 Ore said on Sunday.

NEWLAT FOOD

The Italian food group’s IPO starts on Monday until Oct. 22.

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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