Italy - Factors to watch on April 11

Fri Apr 11, 2014 2:59am 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 (*).

POLITICS

Both the prosecution and defence have asked a Milan court to order former Prime Minister Silvio Berlusconi to serve a one-year sentence for tax fraud doing community service, judicial sources said on Thursday.

Prime Minister Matteo Renzi on a visit in Milan.

DEBT

DBRS updates credit rating on Italy.

Treasury sells 3-3.5 billion euro 3-year BTP bonds, maturing on Dec. 15, 2016, at 1.5 percent coupon; 2-2.5 billion euros 7-year BTP bonds, maturing on May 1, 2021, at 3.75 percent coupon; 0.75-1.25 billion euros 30-year BTP bonds, maturing on Sept. 1. 2044, at 4.75 percent coupon. Subscriptions close at 0900 GMT.

COMPANIES

ALITALIA

Prime Minister Matteo Renzi met the CEO of Etihad in Rome on Thursday over a possible investment into troubled airline Alitalia, a source in the prime minister's office said.

Il Messaggero said Alitalia will hold key board meeting to discuss Etihad's offer, which should be non-binding, on Monday. A key hurdle remains cutting labour costs.

* The Gulf carrier wants to cut at least 3,000 Alitalia jobs, several newspaper said, out of the current 14,000.

* Il Sole 24 Ore says Etihad is ready to inject up to 550 million euros to buy a 49.9 percent stake. Etihad has requested the Italian creditors of Alitalia to write off at least 400 million euros of debt out of around 1 billion euros.

MEDIASET

Credit Suisse on Thursday said it had received a mandate from Spain's Prisa PRS.MC to place a 3.69 percent stake the company holds in the local unit of Italy's Mediaset with institutional investors.

* TELECOM ITALIA

The CEO Marco Patuano said in an interview with Il Sole 24 Ore that the idea of spining off the fixed line network was definitively sidelined. He said that as regards Brazil there were no talks at all with Vivendi over GVT. He reiterated the group had no need to tap the market.

* ANIMA

Italy's Anima Holding has priced its its initial public offering at 4.20 euros per share, near the top of its range, valuing the asset manager at 1.26 billion euros ($1.75 billion), the company said.

CREDITO VALTELLINESE

Extraordinary period to subscribe "Warrant ordinary share Creval 2014" ends.

Board meeting on FY results: PMS GROUP, ZUCCHI .

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FTSE IT allshare index

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

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