Italy - Factors to watch on February 11

Tue Feb 11, 2014 2:55am EST

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The following factors could affect Italian markets on Tuesday.

Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).

POLITICS

Italian President Giorgio Napolitano faced fierce criticism on Monday over reports that he asked Mario Monti about replacing Silvio Berlusconi as prime minister months before his government fell at the height of the euro zone crisis in 2011.

Rome, Poste Italiane CEO Massimo Sarmi speaks before Chamber of Deputies Transport, Mail and Telecommunication Committee (1200 GMT) on stake sale and at Senate on privatisation (1330 GMT).

Milan, UniCredit inaugurates 'UniCredit Tower' with Chairman Giuseppe Vita, CEO Federico Ghizzoni, Prime Minister Enrico Letta (1430 GMT).

Rome, Prime Minister Enrico Letta meets small company network 'Rete Imprese Italia' (0800 GMT).

ECONOMY

A surprise slump in Italian industrial output in December has thrown a shadow over prospects for a firm economic recovery, though analysts still expect gross domestic product grew slightly at the end of last year, the first since mid-2011.

DEBT

The Italian Treasury said on Monday it would offer up to 7.5 billion euros ($10.24 billion) of fixed-rate bonds (BTPs) at its regular mid-month auction on Feb. 13.

COMPANIES

Board meetings on preliminary FY results:

Moleskine followed by conference call (1700 GMT)

Recordati

Saipem followed by conference call (1630 GMT).

BANKS

Italy's Economy Ministry on Monday backed initiatives by lenders to offload their bad debts but said it saw no need to set up a "bad bank" using either public or European Union funds.

Regulators will exempt banks that had mandatory European Commission-approved restructuring plans in place last year - such as Monte dei Paschi di Siena - from the harshest of stress tests in 2014, Italian government officials say.

* BANCA MONTE DEI PASCHI DI SIENA

A possible purchase by the Qatari sovereign fund of 15-20 percent of the bank from top shareholder the Monte Paschi Foundation could value the foundation's stake at 0.16-0.21 euros per share, Il Sole 24 Ore reports. Il Messaggero said on Saturday the foundation's advising bank Lazard had restarted talks with Qatar on the basis of a 0.20-0.21 euros per share price, but that Qatar was willing to offer 0.15-0.016 euros.

* BANCA POPOLARE DELL'EMILIA ROMAGNA, BANCA POPOLARE DELL'ETRURIA

Banca Popolare dell'Emilia Romagna is the most likely candidate to merge with fellow cooperative Banca Etruria, which said in December it plans to tie up with another bank as soon as possible, in response to an inspection by the Bank of Italy, Il Sole reports.

MEDIASET

European soccer's governing body UEFA awarded television broadcaster Mediaset MS.MI the exclusive rights to show in Italy all live Champions League matches and their highlights for the seasons between 2015-2018, the company said on Monday.

Rival Sky Italia, part of News Corp, won the exclusive transmission rights for the Europa League for the same seasons, ANSA press agency said, without giving a source.

ILVA, ARCELORMITTAL

The world's biggest steel producer ArcelorMittal is among parties considering buying Italian steelmaker Ilva, depending on the cost of an environmental cleanup plan ordered by the government, several sources said on Monday.

POPOLARE EMILIA ROMAGNA

Italy's cooperative lender Popolare Emilia Romagna EMII.MI is in talks with some investors to sell a portion of its souring loans, two sources close to the matter said on Monday.

MEDIOLANUM

Italian asset manager Mediolanum MED.MI said on Monday net inflows at its Banca Mediolanum reached 147 million euros ($200 million) in January.

ELECTROLUX

Top management due to speak before Senate Industry Committee (1330 GMT) in Rome.

A2A

The cities of Milan and Brescia have hired Mittel Advisory to define a price for the 5 percent stake they are planning to sell in Italy's No. 1 regional utility A2A A2.MI, a source close to the Brescia administration said on Monday.

* POSTE ITALIANE

Italy's postal service sent a document to Brussels saying it could make more than 10 million euros in synergies this year from its investment in Alitalia, Il Messaggero reports.

* SALINI IMPREGILO

The Panama Canal's former administrator is largely to blame for a dispute that threatens a multi-billion dollar expansion of the waterway and should have flagged doubts about Spanish builder Sacyr, Panamanian president Ricardo Martinelli said on Monday.

* TELECOM ITALIA, TIM BRASIL, VIVENDI , TELEFONICA

Telecom Italia unit Tim Brasil said in a statement on Monday there were no talks underway with French media group Vivendi's own Brazilian subsidiary GVT.

Il Sole 24 Ore reports the question of Tim Brasil's involvement with GVT is still open, but that Telefonica Chief Executive Cesar Alierta would be against such a deal.

Massachusetts Financial Services has 5.7 percent of Telecom Italia's savings shares, according to a filing made with the U.S. Securities and Exchange Commission on Monday, Il Sole 24 Ore writes.

* ALITALIA

Etihad Airways is holding talks with Alitalia's banks in Rome this week about buying a stake in the troubled Italian carriere, the chief executive of the Abu Dhabi-based airline said.

* ASCOPIAVE, VERITAS

The Italian regional utilities said they had completed a transaction whereby Ascopiave has bought the remaining 49 percent of Veneto-based Veritas Energia it did not already own, for around 4 million euros ($5.46 million). The deal gives Veritas Energia an enterprise value of 16.4 million euros.

* INVENSENSE, STMICROELECTRONICS

Invensense and STMicroelectronics said they had settled all ongoing patent lawsuits between them, and that neither company had admitted liability with respect to the litigation.

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