Italy - Factors to watch on September 5
The following factors could affect Italian markets on Thursday.
Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).
Assogestioni releases July fund flows data.
BANCO POPOLARE, AZIMUT
The Italian lender said on Thursday it had sold its 2.1 percent stake in domestic asset manager Azimut through an accelerated bookbuilding procedure reaping a net capital gain of 29.2 million euros ($38.54 million).
* TELECOM ITALIA
Executive Chairman Franco Bernabe will propose the board at a meeting on Sept. 19 a reserved capital increase to bring in a new investor and cut the group's debt pile, la Repubblica said, adding Egyptian tycoon Naguib Sawiris was the most likely candidate.
Bernabe is looking at three options for the Sept. 19 board meeting: a merger with shareholder Telefonica, a possible offer by AT&T for a minority stake or resuming talks with Sawiris, MF reported.
The foundation that owns 47 percent of the bank said on Wednesday it had picked Cesare Castelbarco Albani to become the new chairman and Alessandro Repetto as his deputy.
Industry body Assogestioni releases July data on fund flows.
The bank's offer to swap existing subordinated notes with newly-issued Tier 2 notes ends on Thursday.
The bank's Chief Executive Federico Ghizzoni told la Repubblica that a government crisis in Italy would put into question the early signs of an economic upturn. The bank's holdings of Italian government bonds have not risen, he said.
The Italian defence group said on Wednesday it had not signed a binding agreement for the sale of power unit Ansaldo Energia at the moment. * A way to get political approval for the Ansaldo Energia sale would be to have state-holding CDP take a 30-35 stake in the power unit, Il Sole 24 Ore reported. * Finmeccanica's helicopter unit has signed a distribution agreement with Chinese-U.S. group Intercontinental Helicopter Investment Co. including the sale of 20 helicopters for around 170 million euros.
ROME- President Giorgio Napolitano meets Bolivian President Juan Evo Morales Ayma (1000 GMT).
RAVENNA- Banking association ABI President Antonio Patuelli and Bank of Italy Deputy Director General Luigi Federico Signorini attend a book presentation (1530 GMT).
MILAN- Conference on "Innovation and Technology for a Sustainable Future" with economist Jeremy Rifkin, Intesa Sanpaolo CEO Enrico Cucchiani, state broadcaster RAI CEO Luigi Gubitosi, Telecom Italia CEO Marco Patuano- 0700 GMT.
MILAN- Infrastructure conference. Borsa Italiana CEO Raffaele Jerusalmi and state-controlled financing agency Cassa Depositi e Prestiti CEO Giovanni Gorno Tempini deliver opening addresses; followed by presentations by Enel CFO Luigi Ferraris, Atlantia CEO Giovanni Castellucci, Prysmian CEO Valerio Battista, Iren CEO Nicola De Sanctis (0700 GMT).
For more details on today's events please see the full agenda in Italian.
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