Italy - Factors to watch on June 16

Mon Jun 16, 2014 2:56am EDT

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 (*).

POLITICS

Prime Minister Matteo Renzi on Friday accused 13 senators from his own party of seeking "15 minutes of fame" after they withdrew their backing for an overhaul of the political system, and pledged to push ahead with reforms.

ECONOMY

ISTAT releases April industrial producer prices (1000 GMT).

COMPANIES

FIAT

The carmaker said on Sunday its board had approved issuing one or more bonds for a total of up to 4 billion euros ($5.5 billion) - or equivalent amount in other currencies - to be placed with institutional investors.

In a statement, Fiat said the bonds may be issued in one or more tranches, also through controlled companies, on or before Dec. 31, 2015, subject to market conditions. In a separate statement, the company said its board had approved the merger plan with Chrysler, already announced in January.

ENI

Libya's western El Feel oilfield has resumed production after security guards ended a protest that lasted more than two months, oil ministry officials said on Sunday, but many oilfields and ports remain blocked.

ALITALIA, UNICREDIT, INTESA SANPAOLO

The board of the troubled airline Alitalia on Friday voted to accept an offer by Etihad Airways to invest in the company, and said it would move quickly to conclude the tie-up, the company's chief executive said.

In a statement the privately held airline said it approved its 2013 balance sheet, without giving details. It said only that it wrote down 233 million euros in charges and devaluations for 2013 "in preparation for future strategies".

A source with knowledge of the company's 2013 balance sheet said losses, excluding the write-down, amounted to about 290 million euros.

Several newspapers at the weekend put the annual net loss at more than 500 million euros, with Il Sole 24 Ore on Saturday giving a net loss of 560 million euros.

The company meets trade unions on the deal on Monday.

BANCA CARIGE

The mid-sized bank, which is launching an 800-million euro rights issue on Monday to bolster its financial strength, said it may need further capital-boosting measures, particularly in view of a pan-European health check of lenders. * Italy's Economy Ministry is likely to grant Fondazione Carige, the banking foundation that owns 19 percent of the bank, permission to buy into the rights issue to keep its stake unchanged, la Repubblica A&F reported on Monday.

The head of the foundation is in Rome on Monday to meet with Economy Ministry officials. The foundation plans to eventually cut its stake to 10-13 percent, aiming to book a capital gain, the paper said without citing sources.

* GTECH

The Italian lottery operator said on Monday it was in preliminary talks to buy Las Vegas-based slot machine maker International Game Technology.

BANCA POPOLARE DELL'EMILIA ROMAGNA

CEO Alessandro Vandelli said in an interview with Il Sole 24 Ore on Sunday that after the 750-million euro capital increase - likely to start on June 23 - institutional investors were expected to hold a combined stake of around 30 percent.

The bank is looking more favourably at possible "systemic" consolidation deals rather than mergers with smaller lenders, but there is no specific operation on the table, he said.

* COBRA, INTEK

Vodafone Global Enterprise VOD.L will offer 1.49 euros a share to buy out shareholders in Cobra Automotive Technologies COBRA.MI, in a deal valuing the Italian auto security systems group at around 145 million euros ($197 million).

* CAIRO COMMUNICATIONS, EI TOWERS

The communications group said on Monday its Cairo Network unit had filed a request with Italy's Industry Ministry to have the right to use for a period of 20 years a block of frequencies for digital television broadcasting.

The broadcasting tower group said on Monday it had signed an accord with Cairo Network to build and manage a new television network.

BANCA POPOLARE DI SPOLETO

Extraordinary shareholders' meeting on capital increase (0630 GMT).

BIOERA

Annual and extraordinary shareholders' meeting (0900 GMT).

IPOS

UniCredit online unit Fineco and state-owned shipmaker Fincantieri start their initial share offering.

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