November 11, 2013 / 5:00 AM / 4 years ago

Italy - Factors to watch on November 11

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 cross-party group of lawmakers signed a proposed amendment to Italy’s 2014 budget that would lower the threshold for obligatory takeovers from to 15 from 30 percent, senators said on Sunday.


National statistics institute ISTAT releases September industrial output data (0900 GMT).

ROME- Bank of Italy releases September data on bank deposits and September statistics on Italian government bond holdings at Italy-based banks.


The Italian Treasury said on Friday it would offer up to 5.5 billion euros of fixed-rate bonds (BTPs) and floating rate bonds linked to 6-month Euribor (CCTEUs) at its regular mid-month auction on November 13.


The Italian asset manager said on Monday it was launching a 250 million euro Tier II subordinated bond with a severn-year maturity convertible into company shares.


Kazakhstan’s giant Kashagan oilfield will not be able to restart production before the end of 2013, said the chief executive of French oil company Total, one of the partners in the project along with Italy’s Eni.

Congo Republic plans to award around 10 onshore and offshore oil blocks by early next year in a new licensing round, the deputy head of state-owned energy company Societe Nationale des Petroles du Congo (SNPC) said.

Eni, which is looking to expand its operations in sub-Saharan Africa, announced in August that it had made an important oil and gas discovery in Congo.


Investment fund Fintech is close to sealing a deal to buy Telecom Italia’s controlling stake in Telecom Argentina, Argentine newspaper La Nacion reported on Saturday.

Rebel investor Marco Fossati tried to buy into the 1.3 billion euro ($1.74 billion) convertible bond Telecom Italia sold last week, but was told the issue was already fully subscribed, Il Sole 24 Ore reported on Saturday.

U.S. asset manager BlackRock bought 200 million euros of the bond, Il Sole said.

Asset management industry group Assogestioni is unlikely to grant Fossati’s request to join him in proposing a single list of candidates to replace Telecom Italia’s current board, if shareholders vote in favour of Fossati’s motion to dismiss the current directors, Il Messagero reported on Saturday.

Three of the telecom operator’s independent board members are considering appealing to antitrust regulators over the sale of the Argentine unit, Il Messaggero said.


Luxury down jacket maker and IPO candidate Moncler sold its sportswear division to a company controlled by private equity fund Emerisque Brands, it said on Friday without giving financial details of the transaction.

Moncler also said it had acquired a 30 percent stake in Cavaliere Brands, the company to which it sold the sportswear business.


The board of the Italian carrier is due to discuss a new business plan worth 400 million euros envisaging 4,000 job cuts when it meets on Wednesday, Il Messaggero said on Monday citing an unnamed leading shareholder. CEO Gabriele Del Torchio was still working on it at the weekend with help from Boston Consulting and Poste Italiane CEO Massimo Sarmi, it said.


Chrysler Group LLC said on Friday it is recalling 1.2 million Ram pickup trucks, mainly in the United States, to check for a chassis defect that could cause loss of steering.


Banca Popolare di Vicenza will decide whether to submit a binding bid for smaller rival Popolare Spoleto, having already expressed an interest, its chairman said on Friday.


A panel of experts charged with assessing the value of the Bank of Italy’s capital has estimated it could be revalued to 5-7 billion euros, a document posted on the Economy Ministry website at the weekend said confirming previous indications.

The document also suggested introducing limits to individual ownership and broadening the number of shareholders by making the stakes easily tradable.

The following company hold board meetings on third-quarter results: Acea, Astaldi, Banca Carige , Camfin, Piaggio, Seat Pagine Gialle, UniCredit.

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