October 18, 2017 / 4:03 AM / 7 months ago

Italy - Factors to watch on Oct. 18

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

Rome, Prime Minister speaks before Chamber of Deputies (0730 GMT) and Senate (1400 GMT) on European Council to be held on Oct. 19-20.

Italy’s president on Tuesday made a rare intervention to defend the country’s central bank chief after the ruling Democratic Party criticised Ignazio Visco, whose mandate expires in less than two weeks.

ECONOMY

Oxford Economics holds “Global Economic Outlook Conference” in Milan (0700 GMT).

BANCO BPM, CATTOLICA

Banco BPM said on Tuesday it had entered exclusive talks with insurer Cattolica Assicurazioni over a bancassurance partnership regarding life and non-life business.

(*) ATLANTIA

The supervisory board of Hochtief, controlled by Spanish building and infrastructure company ACS, is expected to meet on Wednesday to discuss whether to make a counter-bid for toll road operator Abertis, rivaling that of Atlantia.

ACS is also expected to hold a board meeting on Wednesday, according to Italian media.

Il Sole 24 Ore said a potential Hochtief/ACS offer would value Abertis at 17 billion euros and would be presented 50-60 percent in cash and the rest in Hochtief shares.

(*) MEDIASET

A minority shareholder has asked market regulator Consob to look into whether former prime minister Silvio Berlusconi’s Fininvest holding and Italian banker Ennio Doris - both Mediaset investors - had acted in concert when raising their holdings and whether they should be required to launch a mandatory takeover offer on the company, Il Sole 24 Ore said.

(*) TELECOM ITALIA, VIVENDI

Vivendi will not appeal Italy’s decision to exercise the golden power over Telecom Italia as doing so could risk losing its investment in the phone group, Il Sole 24 Ore.

A decision on any further exercise of the golden power over Telecom Italia would be taken by November, Il Sole 24 Ore said, adding the company’s fixed-line network could be the target of any additional measures.

(*) UNICREDIT

On Thursday, Fortress, Cerberus, Lindorff and a consortium comprising Mediobanca and Algebris will present offers to buy a portfolio of non-performing loans with a nominal value of 1 billion euros put on the block by UniCredit, MF reported. The transaction is dubbed “Firenze”.

DOBANK

doBank committed to invest 30 million euros in Atlante II bank rescue fund.

EDISON, FRENDY ENERGY

Edison said it had launched a mandatory public tender offer on Frendy Energy 0.34 euros per share after acquiring 50.1 pct of company.

BANCA CARIGE

Final deadline to take up Banca Carige’s debt swap offer deadline (1400 GMT).

SALINI IMPREGILO

The company said its board had examined operation of refinancing of long-term debt for about 1 billion euros.

UNIEURO

The company announced the completion of the non-proportional demerger of Italian Electronics Holdings holding company belonging to historical shareholders of Unieuro, including private equity operator Rhône Capital, Dixons Carphone, the Silvestrini family and the Top Management. ‍​

BENI STABILI

Beni Stabili announced the issue and settlement of 300 million euro 1.625 percent senior unsecured bonds due 2024‍​‍​ notes were priced at a spread of 115 basis points over reference swap rate.

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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