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 Milan court on Saturday ruled that former Prime Minister
Silvio Berlusconi should be barred from holding public office
for two years following a conviction for tax fraud.
Industry Minister Flavio Zanonato defended Italy's 2014
budget law in an interview with Il Messaggero on Monday saying
it included tax cuts for the first time in years.
Italy is looking to introduce bilateral guarantees for swap
derivatives over government bonds entered by the Treasury with
primary dealers in a move that shields banks in the event of an
Italian sovereign default, la Repubblica reported on Saturday
citing a law decree linked to the budget law.
* The value of the state-owned properties that Italy is
planning to transfer to real-estate fund Invimit with the aim of
finding new investors will total 6.1 billion euros by 2017,
Corriere della Sera reported on Monday.
Banks that are still viable but need state aid to boost
their capital base should be allowed to receive help without
inflicting losses on their junior bondholders, European Central
Bank President Mario Draghi told the European Commission.
ENI, SNAM, TERNA
The "Destination Italy" asset-sale plan envisages the sale
by the Treasury of a 4.34 percent stake in oil group Eni, and of
up to nearly 10 percent each of Snam and Terna, Il Sole 24 Ore
reported on Saturday without citing sources.
An initial sale of 4.9 percent of Terna could take place by
early 2014, the paper said, adding the Treasury was also
assessing the idea of listing Fincantieri and Sace.
MONTE DEI PASCHI DI SIENA
The bank's leading shareholder could consider selling all
its 33.5 percent stake in the troubled Italian lender, the head
of the bank's foundation was quoted as saying on Sunday.
The airline said on Friday it had already raised 130 million
euros as part of its capital increase for up to 300 million
euros approved this week by shareholders.
Half of the amount came from shareholders Intesa Sanpaolo
, Atlantia and Immsi, the other half
from creditors Intesa and UniCredit.
A letter in which Italy's postal service pledges to buy
shares left unsubcribed in Alitalia's cash call for up to 75
million euros sets some conditions - such as the EU starting an
infringement procedure against Italy for breaking state-aid
rules - which may void the commitment, Il Sole 24 Ore said on
Saturday without citing sources.
The board of Atlantia gave a green light to buying into the
Alitalia's cash call after overcoming initial resistance to the
conditions set for the postal service's investment, Il Sole 24
Ore and Il Messaggero said on Saturday.
China's Hainan Airlines have expressed an interest in
Alitalia in a letter to adviser Rotschild, Il Messaggero
The involvement of Intesa and UniCredit in the latest
Alitalia's rescue has "irritated" Bank of Italy's governor
Ignazio Visco la Repubblica reported on Saturday citing no
The Transportation Ministry is drafting a national plan for
airports which is expected by mid-November, Corriere della Sera
reported on Sunday.
The telecoms group wil likely call a board meeting ahead of
the Nov. 7 one following a request by one investor to remove
board members appointed by key shareholder Telco, Il Sole 24 Ore
said on Saturday. A date should be announced early next week.
The aim of investor Findim is to make shareholders and not
the board responsible for a possible decision to sell Telecom's
Latin American assets, la Repubblica said on Saturday. Findim
also wants to change the rule allowing whoever controls a
majority of shareholders to name four-fifths of board members.
Telecom has hired head-hunter Spencer Stuart to help it pick
a new chairman, Il Messaggero reported on Saturday without
Standard and Poor's has raised the outlook on the Italian
utility's 'BBB-/A3' rating to "stable" from "negative," Acea
said in a statement on Monday.
The bank has agreed to a debt restructuring deal for the
Carlo Tassara holding company after a decision to split proceeds
from the sale of a 1.7 percent stake in Intesa only among
UniCredit, Banco Popolare and Carige, leaving other creditors
out, Il Messaggero reported on Saturday without citing sources.
The bank's CEO told La Stampa on Monday that credit demand
equalled the amounts maturing on short-maturities while on
medium-term loans it was still below.
* CELL THERAPEUTICS
The pharmaceutical company said on Monday findings from a
preclinical study of pixantrone suggest its mechanism of
inducing tumor cell death is novel and distinct from that of
anthracyclines such as doxorubicin.