CORRECTED-Italy - Factors to watch on June 19

Thu Jun 19, 2014 3:12am EDT

(In UniCredit item, corrects to show paper says bank to pay 700 million euros for the increased stake, not valuing the whole of Tiriac Bank at that level) 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 (*).

ECONOMY

The International Monetary Fund will urge the European Central Bank to increase efforts to ward off the risk of deflation with steps including programmes to purchase government bonds, according to a person who has seen the recommendation.

Italy moved to help small- and medium-sized businesses with their electricity costs and launched a package of measures to improve investment under legislation introduced last week and detailed to reporters on Wednesday.

DEBT

The Italian Treasury said on Wednesday it would exchange up to 2.5 billion euros ($3.4 billion) in fixed-rate bonds (BTPs) and floating-rate bonds linked to 6-month Euribor (CCTEUs) at a buy-back operation on June 20.

COMPANIES

GENERALI

The Italian insurer could seal a deal to sell its Swiss private banking unit BSI to Brazil's Banco BTG Pactual by the end of this month, sources close to the matter said on Wednesday.

WORLD DUTY FREE

The Italian travel retailer said on Wednesday its board had approved the merger of its Spanish subsidiaries. The board has also a green light to a share buy-back programme for up to 5 percent of its capital.

* BANCO POPOLARE

The bank may consider postponing the sale of its Release bad bank unit as suitors Blackstone, Prelios-Fortress and PIMCO-GWM are offering a price that is too low, Il Sole 24 Ore said in an unsourced report. * INTESA SANPAOLO

Gian Maria Gros-Pietro, the bank's management board chairman, told Il Sole 24 Ore that proposals to revise the lender's governance addressing criticism from the Bank of Italy that there are too many board seats will be presented in coming months.

ENI

Zubair field In Iraq is not currently affected by the turmoil there, a spokesman for the Italian oil and gas major said on Wednesday, adding the company was keeping essential personnel in place.

BANCA POPOLARE EMILIA ROMAGNA

The Italian lender said on Wednesday it had got market regulator Consob's approval for its planned 750 million-euro ($1 billion) share offer, set to start on June 23.

FINMECCANICA

The aerospace and defence group denied on Wednesday rumors circulating in the press according to which its loss-making AnsaldoBreda unit would be incorporated in Finmeccanica.

* UNICREDIT

UniCredit's Bank Austria is set to increase its stake in Romania's Tiriac Bank to 96 percent from a current 50.5 percent paying 700 million euros partly in cash, Il Messaggero said in an unsourced report.

IPO

Italian business credit data provider Cerved said on Wednesday it aimed to make its debut on the Milan bourse on June 24 with a stock market value of 995 million euros ($1.35 billion).

* SEAT PAGINE GIALLE

A meeting of the creditors of the yellow pages' company has been rescheduled to July 10, the company said on Wednesday.

ALITALIA

Trade union representatives said at a meeting on Wednesday they would not back the 2,251 layoffs envisaged by the preliminary agreement with Gulf airline Etihad, Corriere della Sera reported.

JUVENTUS

The football club said on Wednesday it had terminated, in favour of Torino, the current player sharing deal for Italian striker Ciro Immobile.

ACQUE POTABILI

Sviluppo Idrico (Iren Group and Smat Torino) voluntary takeover offer on Acque Potabili shares ends.

CALEFFI

Bond holders "Prestito Obbligazionario 2013-2016" meeting (1300 GMT).

MOVIEMAX MEDIA GROUP

Bond holders' meeting "Moviemax 8% 2013-2019" (0900 GMT).

PIERREL

Annual and extraordinary shareholders' meeting (0800 GMT).

Annual general meetings: LA DORIA (0900 GMT), PRELIOS (0900 GMT).

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