Deals

Italy - Factors to watch on Nov. 25

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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 (*).

For a complete list of diary events in Italy please click on .

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POLITICS

Italy reported 85 coronavirus-related deaths on Wednesday against 83 the day before, the health ministry said, while the daily tally of new infections rose to 12,448 from 10,047.

ECONOMY

ISTAT releases October non-EU foreign trade (0900 GMT).

DEBT

Treasury sells 1.75-2.25 billion euros BTP Short-term due Jan. 30, 2024 and 0.75-1.0 billion euros BTPei bonds due May 15, 2030. Subscriptions close at 1000 GMT.

Treasury announces sale of BTP and CCTeu bonds, with relative amounts to be auctioned on Nov. 30.

COMPANIES

TIM (TLIT.MI)

The Italian government will discuss KKR's proposed takeover on Telecom Italia when the U.S. fund will make a binding proposal, Industry Minister Giancarlo Giorgetti said on Wednesday. read more

More than 25% of Telecom Italia's voting rights have changed hands since U.S. fund made this weekend a $12 billion approach to take over the Italian phone group.

Shares in TIM gained 15.63% on Wednesday, strongly outperforming the Milan bourse, on market speculation over an increase of KKR's offer to overcome main shareholder Vivendi's resistance to the proposal.

(*) A widened meeting of the board of auditors, which will also include the control and risk committee, will meet later on Thursday, Corriere della Sera reported, adding that it would compare the financial targets indicated by the group with the actual estimates based on recent earnings figures.

(*) TIM's soccer rights deal with streaming service DAZN and its effects on the phone group's revenues will be examined at a meeting of the board of auditors later on Thursday, Il Messaggero reported. Papers add that should the auditors think that the cash flow is insufficient for the coming months they could indicate the need for a third profit warning.

(*) Although U.S. fund KKR has made a binding proposal for TIM, other large private equity groups are interested in the phone group, Il Sole 24 Ore reported. It added, citing indiscretions, that while CVC was still in the running and ready to consider a possible offer for TIM, Advent is no longer interested.

(*) UNICREDIT (CRDI.MI)

Ahead of the unveiling of its industrial plan in early December, the lender is about to conclude the reorganisation of its joint ventures in the life insurance business with France's CNP Assurances (CNPP.PA), after which the bank will stay on as a minority partner, Il Sole 24 Ore reported.

GENERALI (GASI.MI)

Italy's top insurer entered into exclusive talks with Credit Agricole (CAGR.PA) to buy the French bank's health insurance unit La Medicale, both companies said in a joint statement on Wednesday. read more

ENEL (ENEI.MI)

Europe's biggest utility will stump up 170 billion euros ($191 billion) this decade to fund its green power and networks businesses as it brings forward plans to become carbon-free to 2040. The group will spend 70 billion euros on renewable energy to almost triple capacity it directly owns to 129 gigawatts (GW) by 2030. "We need to electrify end consumption as much as possible," Enel Chief Executive Francesco Starace said in a presentation of the company's business plan. read more

(*) ENI (ENI.MI)

U.S. Investment firm BlackRock (BLK.N), Sixth Street and EIG Global Energy Partner are all interested in a minority stake in the Eni's power generation unit EniPower, Il Sole 24 Ore reported, adding that binding offers are expected in the first days of December.

LEONARDO (LDOF.MI)

The Italian government is considering various options regarding the sale of Leonardo's units, government sources said on Wednesday.

Rome is interested in preserving the value of the assets and the sector's jobs while pursuing European partnerships, the sources said after economy, defence and industry ministers met to discuss Leonardo's intention to sell its OTO Melara and Wass units.

(*) The government is considering a split sale of the two units, with Wass sold to Italian shipbuilder Fincantieri (FCT.MI) and OTO Melara to Franco-German KMW+Nexter Defence Systems (KNDS), Il Sole 24 Ore reported.

(*) Political sources told Reuters the government has not taken a decision yet and wants to avoid clashes between the companies involved in the potential deals.

IPO

Following completion of institutional placement, Italian heating solutions group Ariston has set the pricing of ordinary shares at €10.25 per share, at the bottom of the initial price range, giving the company a market capitalization of 3.4 billion euros. Ariston is expected to start trading on the Milan's bourse on November 26 with a free float of 23.77% of its shares

(*) PRADA

Lorenzo Bertelli, the eldest son and heir designate to Prada's Chief Executive Patrizio Bertelli, vowed to keep the family-controlled luxury fashion group independent when he takes the reins in a few years, he told Reuters. read more

MEDIASET (MS.MI)

Extraordinary shareholders' meeting (1000 GMT).

CERVED GROUP (CERV.MI)

Ordinary and extraordinary shareholders' meetings (1000 GMT).

TAKE OFF (TKOF.MI)

Clothing and accessories trading company debuts on Euronext Growth Milan.

DIARY

Rome, Prime Minister Mario Draghi meets French President Emmanuel Macron (1730 GMT).

Rome, Chamber of Deputies Speaker Roberto Fico attends UP legislative meeting and Standing Committee of the Parliamentary Assembly (PACE) meetings (1400 GMT).

Rome, Senate Budget Committee meets on budget.

Rome, Senate Finance and Labour committees meet on fiscal decree (0900 GMT and 1630 GMT).

Rome, Energy Authority ARERA President Stefano Besseghini (0900 GMT) and Industry Minister Giancarlo Giorgetti (1030 GMT) speak before Parliamentary Committee for the Security of the Republic (COPASIR) on energy security in the current phase of ecological transition.

Rome, state lender Cassa Depositi e Prestiti (CDP) holds news conference to present "2022-2024 Strategic plan" with President Giovanni Gorno Tempini and CEO Dario Scannapieco (1400 GMT).

Turin, 7th Italian-Russian seminar on "Innovation, the engine of the economy" (0800 GMT). Turin Mayor Stefano Lo Russo, Intesa Sanpaolo (ISP.MI) Chairman Gian Maria Gros-Pietro, Banca Intesa Russian unit Chairman Antonio Fallico to deliver opening addresses; session on "Innovation as a driver for the development of economic and trade relations among Russia, Italy and Piedmont region" with Compagnia di San Paolo Secretary General Alberto Anfossi, Gazprom Export Head of Directorate for Contract and Pricing Sergey Komlev, Thales Alenia Space Italian unit CEO Massimo Claudio Comparini, Avio (AVI.MI) Aero unit CEO Riccardo Procacci, SACE representative Enrica Delgrosso; Antonio Fallico delivers closing address.

((Milan newsroom, +39 02 6612 9507, fax +39 02 801149, milan.newsroom@news.reuters.com))

For Italian market data and news, click on codes in brackets:

20 biggest gainers (in percentage)............(.PG.MI)

20 biggest losers (in percentage).............(.PL.MI)

FTSE IT allshare index (.FTITLMS)

FTSE Mib index........ (.FTMIB)

FTSE Allstars index... (.FTSTAR)

FTSE Mid Cap index.... (.FTITMC)

Block trades.......... (.BLK.MI)

Stories on Italy......

For pan-European market data and news, click on codes in brackets:

European Equities speed guide...................

FTSEurofirst 300 index..............................(.FTEU3)

DJ STOXX index......................................(.STOXX)

Top 10 STOXX sectors...........................(.PGL.STOXXS)

Top 10 EUROSTOXX sectors......................(.PGL.STOXXES)

Top 10 Eurofirst 300 sectors...................(.PGL.FTEU3S)

Top 25 European pct gainers.......................(.PG.PEUR)

Top 25 European pct losers........................(.PL.PEUR)

Main stock markets:

Dow Jones...............(.DJI) Wall Street report .....

Nikkei 225.............(.N225) Tokyo report............

FTSE 100...............(.FTSE) London report...........

Xetra DAX.............(.GDAXI) Frankfurt market stories

CAC-40.................(.FCHI) Paris market stories...

World Indices.....................................

Reuters survey of world bourse outlook.........

Western European IPO diary..........................

European Asset Allocation........................

Reuters News at a Glance: Equities...............

Main currency report:...............................

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