September 13, 2019 / 4:02 AM / a month ago

Italy - Factors to watch on Sept. 13

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 .

TELECOM ITALIA (TIM)

The chairman of Italy’s biggest phone group, Fulvio Conti, is considering stepping down after just over a year in office in a move that signals an easing of tensions between the phone company’s main shareholders, Conti said in a statement.

Telecom Italia may resume discussions on a conversion of its savings shares into ordinary stock at a board meeting on Sept. 26, a source close to the situation said on Thursday.

(*) A plan for broadband network integration involving Open Fiber and TIM is moving forward, la Repubblica reported, adding that TIM’s advisors had receive expressions of interest from institutional investors and infrastructure funds.

UNICREDIT

U.S. asset manager BlackRock held just below 5% of voting rights in Italy’s largest bank as of Sept. 9, according to a regulatory filing.

MEDIASET

Third-quarter operating results will be higher than in the same period of 2018, the Italian broadcaster’s Chief Executive Pier Silvio Berlusconi said in a statement.

(*) SALINI IMPREGILO, ASTALDI

Telecom Italia Chairman Fulvio Conti could be named chairman of a new construction champion to be created under the ‘Progetto Italia’ plan, la Repubblica reported citing financial sources.

(*) CERVED

Bain Capital Credit, Cerberus and Apollo could submit expressions of interest for the NPL division that the Italian credit information group has put up for sale in the coming weeks, Il Sole 24 reported.

BANCA MEDIOLANUM

Top investors Gruppo Doris and Fininvest said on Thursday they had decided to put the renewal of their shareholder pact on ice pending judicial decisions on Fininvest’s stake.

BANCA CARIGE (share suspende from trading)

The rating agency Moody’s extended its review for downgrade on the ratings on Cassa Centrale Banca in order to assess the impact of the potential acquisition of Carige.

ASTALDI

The Italian construction group reported revenues of 716 million euros and an ebitda of 30 million euros in the first half of 2019. Backlog for construction and plant stood at 7.6 billion at the end of June.

EL.EN.

The Italian laser equipment maker said on Thursday it was confident its results could improve further above current guidance and set an annual revenue growth target of “well above” 10%.

(*) SPACTIV

Fashion label Elisabetta Franchi is set to list on the Milan stock exchange following a business combination with shell company Spactiv, in a deal that values the Italian clothing brand at 195 million euros.

Spactiv shares are suspended from trading, the Italian stock exchange said on Friday.

MONRIF, POLIGRAFICI EDITORIALE

The boards of the two editorial companies approved the incorporation of Poligrafici Editoriale in the parent Monrif with an exchange ratio set at 1.27 new shares Monrif for 1 Poligrafici 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

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