Italy - Factors to watch on May 4

Fri May 4, 2012 2:57am EDT

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 (*).

ITALY/IMF

An IMF team that arrived in Italy on Thursday is expected to focus more closely than usual on the health of the banking system in an "intense" review of the country's finances, sources said.

EDISON

French electricity giant EDF intends to offer 0.89 euros per share to buy out Edison's Italian investors, Italian market regulator Consob said, according to a Consob letter published by Italian northern utility A2A late on Thursday, clearing the deal that will give the French utility control of Italy's No. 2 utility.

* EDF said on Friday it would share the increase in the price it has to pay to buy out the Italian investors of Edison, paying half of the 50 million euros for the Italian utility.

FONDIARIA-SAI

Italian insurers Unipol and Fondiaria-SAI will be able to press ahead with plans to merge, as an antitrust probe continues, if they do not launch the capital increases envisaged by the deal, the competition regulator said on Thursday.

* Fondiaria is in exclusive talks with 21 Investimenti, the investment fund of the Benetton family, to sell Atahotels, Il Messaggero said. The deal would see 21 Investimenti take an 80 percent stake in the hotel chain and subscribe a 20 million euro cash call against a valuation of the chain of 25 million euros.

BANCA MONTE DEI PASCHI DI SIENA

Italy's No. 3 lender named Fabrizio Viola as its new chief executive on Thursday, as the world's oldest bank revamps its management team to restore its profitability.

TELECOM ITALIA

Telecom Italia's unlisted controlling shareholder, Telco, is set to refinance its debt through a 600 million euro capital increase, 1.75 billion euros worth of new bonds and a 1.05 billion euro credit line, it said on Thursday.

* Luca Luciani, the CEO of the grouop's Brazilian unit Tim Participacoes, is set to offer his resignation in the wake of a mobile phone probe in Italy, Il Sole 24 Ore said.

* FINMECCANICA, ANSALDO STS

The government will examine the issue of top management at the air defense group next week in the wake of an investigation into alleged international and domestic bribery that has embroiled the group's Chairman and CEO, Il Messaggero said without citing sources.

The paper also said Hitachi was close to buying 50 percent of the group's unit Ansaldo Breda together with 20-25 percent of Ansaldo STS.

ITALCEMENTI

Italian cement maker Italcementi said on Friday it has agreed to acquire a stake in West China Cement as the group moves to strengthen its position in the world's largest building materials market.

* RCS MEDIAGROUP, ASSICURAZIONI GENERALI

Proto Organization, headed by Italian financier Alessandro Proto, said in a note that Assicurazioni Generali has said it cannot accept its offer to buy all Generali's stake in RCS. Proto said it will find other ways to grow in RCS.

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FTSE IT allshare index

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FTSE Mid Cap index....

Block trades..........

Stories on Italy...... IT-LEN

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