Italy - Factors to watch on November 16

Fri Nov 16, 2012 2:57am EST

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 GDP

Italy's economy contracted less than expected in the third quarter, data showed on Thursday, offering an all too brief glimmer of hope in a recession that shows no sign of ending any time soon.

Growth fell 0.2 percent in the third quarter from the second, far better than the median forecast of 0.5 percent in a Reuters survey of 28 analysts thanks to what appeared to be an improved performance by Italy's industrial sector.

TELECOM ITALIA

The phone operator's board will discuss a potential bid for Brazil's GVT on December 6, Chief Operating Officer Marco Patuano said on Thursday. The board will also discuss a plan to spin off the phone company's fixed-line network at the board. An investment offer from Naguib Sawiris is one option to finance the GVT bid, Patuano said.

* The telecoms company may decide not to spin off its fixed line network into a separate company in which state-owned fund CDP takes a minority stake, Il Sole Ore said without citing sources. The newspaper said spinoff talks had stalled because of differences of opinion over governance and valuation between Telecom Italia and CDP. It speculated that CDP might invest directly in Telecom Italia.

FIAT

Chrysler Group LLC will invest $238 million in two plants in Michigan to boost engine production to meet U.S. demand for smaller, more fuel-efficient engines, the U.S. automaker majority owned by Fiat SpA said on Thursday.

* ENI, SNAM

The oil and gas group is speeding up plans to sell the remaining stake it has in gas transport group Snam, Il Sole 24 Ore said.

* AUTOGRILL

The company has had preliminary contacts with Swedish private equity EQT to buy UK catering group SSP, La Repubblica said.

* PIRELLI

The main shareholder of Pirelli Marco Tronchetti Provera is expected to reach an agreement before markets open on Monday with private equity funds InvestIndustrial and Clessidra to help fund a capital increase at a Pirelli holding and keep him in control, La Repubblica said. In return for the agreement the Pirelli No. 1 would get rid of a complex cascade of holdings through which he controls the tyremaker, it said.

DE'LONGHI

The appliance-maker's main shareholder said on Thursday it is selling as much as an eight percent stake in the appliance maker to institutional investors.

ITALCEMENTI

Moody's downgraded the cement maker to Ba2, with an negative outlook.

FINMECCANICA

General Electric has emerged as the front runner to acquire Avio, a privately held airplane parts supplier In which Finmeccanica has a stake, and will present its plans to Italian government officials on Friday, people familiar with the situation on Thursday.

* Germany's Siemens has had a series of meetings in Genoa over its interest in Finmeccanica energy unit Ansaldo Energia and an offer could be tabled before mid-December, MF said.

IPO

Milan airport operator SEA has set a price range for its IPO that values the company at 0.800-1.075 billion euros, Il Sole 24 Ore said, citing a board decision. The float will be 25 percent, it said, adding the road show will begin on Monday. 

For Italian market data and news, click on codes in brackets:

20 biggest gainers (in percentage)............

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FTSE IT allshare index

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

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