June 25, 2018 / 4:00 AM / 5 months ago

Italy - Factors to watch on June 25

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 (*).

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

POLITICS

German Chancellor Angela Merkel said on Sunday she would seek direct deals with separate European Union states on migration, conceding the bloc had failed to find a joint solution to the issue threatening her government.

DEBT

Treasury announces sale of BTP and CCTeu bonds, with relative amounts to be auctioned on June 28.

The Treasury said on Friday it would offer 6.5 billion euros in six-month bills at auction on June 27.

The Treasury said on Friday it had bought back 700 million euros over three bonds.

TELECOM ITALIA

The chairman Fulvio Conti is trying to mend the worsening of relations between CEO Amos Genish and the board after Genish's comments last week about some board members feeding untrue speculation to the market, Il Messaggero said on Sunday. The move is ahead of Monday's board meeting.

Vivendi is seeking to regain control of the phone group, La Stampa said on Sunday.

ENEL

Italy's biggest utility said on Monday it was investing 150 million euros for a 21 percent stake in a company controlling Latin American fibre-optic provider Ufinet and had an option to buy the remaining 79 percent from private equity firm Cinven by the end of 2021 for 1.32-2.10 billion euros.

PRYSMIAN

The cable maker said on Friday fresh problems with the WesternLink submarine cable connecting Scotland to Wales would translate into additional costs for 50 million euros this year and lowered its combined adjusted EBITDA guidance accordingly.

INTESA SANPAOLO

BlackRock aims to buy a 30 percent stake in Intesa SanPaolo's asset management unit as it seeks greater influence over Italy's second-largest fund house, sources familiar with the matter said. BlackRock, the world's largest asset manager, is in talks with Intesa's executives and is hoping to secure control of the stake in order to play a bigger role in Eurizon's operations and its IT management, one of the sources said.

Giuseppe Guzzetti, head of Intesa's 4.8 percent shareholder Fondazione Cariplo, was quoted as saying in Monday's L'Economia he was very happy about how the bank was doing.

BPER BANCA, UNIPOL

Italian financial group Unipol has further raised its stake in BPER Banca, and now owns 14.23 percent of the country's sixth-largest bank.

BPER Banca, said on Friday that its problem-loan ratio would fall to 17.8 percent once its Banco di Sardegna unit completed a 900 million euro ($1 billion) loan securitisation deal.

A proposal by the Unipol CEO that BPER raise capital for a bad loan clean-up has little traction with other shareholders except for Fondazione Banco di Sardegna, which would raise its stake in BPER if a new business plan due in the autumn envisaged a merger with Banco di Sardegna of which BPER owns 51 percent and the banking foundation the remaining 49 percent, Il Sole 24 Ore reported on Saturday.

BANCA MONTE DEI PASCHI DI SIENA

The bailed-out Italian lender said it had sold, as agreed, 95 percent of the junior notes in its major 24-billion euro bad loan securitisation to Italian Recovery fund, a state-sponsored, privately-financed bank rescue fund managed by Quaestio.

LUXOTTICA

Ray-Ban owner Luxottica said on Friday it had bought the world's top manufacturer of optical glass sun lenses Barberini in a 140 million euro ($163 million) deal.

BANCA CARIGE

Non-binding offers the bank is receiving for unlikely-to-pay loans it has put up for sale are "totally in line" with what was expected before last month's market turmoil, CEO Paolo Fiorentino said in a Class CNBC interview published in Saturday's Milano Finanza. He said the bank may complete as early as the end of July "a major step" in its bad-loan clean-up which was slated for September-October.

ASSICURAZIONI GENERALI

CEO Philippe Donnet met on Friday with Vietnamese Prime Minister Nguyen Xuan Phuc to discuss the country's investment opportunities and economic potential as well as Generali's strong commitment in developing its local business.

DAVID CAMPARI

The Garavoglia family, that controls 51 percent of drinks group, is rejigging its holding structure, transferring the holding to Luxembourg, Corriere della Sera said on Sunday.

CERVED GROUP

The Italian debt collector said on Monday it aimed for annual adjusted core profit growth of up to 8.5 percent on average in the next three years, partly thanks to acquisitions.

'Investor Day' in London (0800 GMT).

(*) UNICREDIT

Activist investor Caius has written to 11 among the bank's leading shareholders and bondholders calling for them to increase pressure on UniCredit to convert 3 billion euros of complex financial instruments which are part of its capital into ordinary shares.

The bank, which has said in the past the treatment of those instruments is compliant with existing regulation, said it no further comment.

TOWERS INDUSTRY

The two minority investors who are set to buy from Italy's Benetton family 30 percent of a newly-established company controlling Cellnex will pay 500 million euros for their equity investment and take on future commitments for a similar amount, Il Sole 24 Ore reported on Saturday.

ENERGY LAB

Bond holders' meeting (0900 GMT).

K.R.ENERGY

Capital increase starts, ends July 13.

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

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

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

FTSE IT allshare index

FTSE Mib index........

FTSE Allstars index...

FTSE Mid Cap index....

Block trades..........

Stories on Italy...... IT-LEN

For pan-European market data and news, click on codes in brackets: European Equities speed guide................... FTSEurofirst 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurofirst 300 sectors................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones............... Wall Street report ..... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt market stories CAC-40................. 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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