Italy - Factors to watch on September 9
The following factors could affect Italian markets on Monday.
Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).
A special committee of the Italian Senate meets on Monday to consider expelling Silvio Berlusconi following his conviction for tax fraud, a decision that could shatter the fragile ruling coalition and plunge Italy into fresh political crisis.
Italian Prime Minister Enrico Letta warned of the risk of fresh political turmoil on Sunday.
Italy's government is set to revise down an official forecast for the economy to contract by 1.3 percent in 2013, according to a Treasury report sent to parliament.
Most analysts are forecasting a decline in output for the whole year of almost 2 percent.
MONTE DEI PASCHI
Italy's third largest bank will seek 2.5 billion euros ($3.3 bln) in extra capital from investors, more than double its original plan, under a revised bailout to shore up the loss-making bank, the economy ministry said on Sunday. * Monte Paschi said on Monday its board would meet on Sept. 11 to discuss a new restructuring plan which it expected to approve on Sept. 24.
FINMECCANICA, TELECOM ITALIA
Italy has no plans to oppose foreign takeovers of domestic companies, its economy minister said on Saturday, as suitors size up Telecom Italia and Finmeccanica's power engineering business.
Naguib Sawiris is still interested in taking a stake in the Italian phone company but might be discouraged if the Italian government was opposed, the Egyptian telecoms tycoon said in emailed statement on Saturday.
Telecom Italia wants any new investor to be an industry player that shares its vision for the company, its chairman said on Friday ahead of a month-end deadline to decide a new ownership structure. * If Spain's Telefonica were not interested in boosting its stake in Telecom Italia, the only other industrial partner would be Britain's Vodafone, la Repubblica Affari&Finanza said on Monday citing industry experts.
The chairman of the insurer said on Saturday he hoped Telecom Italia would benefit from opportunities from sector consolidation but if it did not come up with a convincing business plan, Generali would need to sell its stake. * Morgan Stanley's infrastructure fund is ready to present an offer for Generali's stake in Agora, boosting its stake in the holding company that indirectly controls 40 percent of the Venice airport's operator, la Repubblica said without citing sources.
The oil and gas group is currently producing less than 270,000 barrels per day (BPD) of hydrocarbons in Libya, the company's Chief Executive Paolo Scaroni said on Saturday. * RECORDATI
The pharmaceutical group said on Monday it would pay 93 million euros to buy Spain's drugs firm Laboratorios Casen Fleet.
The chief executive of the bank said on Saturday he expected a new phase of mergers in the banking sector, both inside Italy and across Europe. Enrico Cucchiani also said his bank was not interested in increasing its exposure to Italy's banking system.
General Electric Co is interested in buying Italian rail technology company Ansaldo STS, the head of the U.S. group in Italy said on Friday, in a further expansion of its presence in the country.
An investment in the property firm is not strategic for Italian tyremaker Pirelli which could decide to sell its Prelios stake in the future, Pirelli Chairman Marco Tronchetti Provera told Reuters on Saturday.
A minority stake sale at the fashion group could see an outside investor take between 15 and 20 percent of the company through a capital increase of around 250 million euros reserved for the new shareholder, Corriere Economia reported on Monday.
For more details on today's events please see the full agenda in Italian.