Italy – Factors to watch on Dec. 6

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 .

GENERAL

Italy reported 43 coronavirus-related deaths on Sunday compared to 75 the day before, the health ministry said, while the daily tally of new reported infections fell to 15,021 from 16,632. read more

ECONOMY

Fitch upgraded Italy’s rating to “BBB” from “BBB-” on Friday, as it expects the country’s economy to grow after reopening from the COVID-19-led pandemic lockdowns. read more

ISTAT releases October retail sales data (0900 GMT).

COMPANIES

TELECOM ITALIA (TLIT.MI)

Telecom Italia is moving closer to picking banks to advise it on a buyout offer approach from U.S. private equity group KKR, two sources said on Saturday. read more

Telecom Italia’s (TIM) top shareholder Vivendi (VIV.PA) is open to discussing the possibility that the Italian government wins control of TIM’s fixed-line network, a spokesperson for the French company said on Sunday. read more

The Italian government thinks that KKR’s proposal for TIM is far from the company’s real value, Il Messaggero reported on Sunday, adding that Rome would welcome a collaboration between Vivendi and CDP. The top executives of Vivendi and CDP met last week, finding points of convergence on strategies for the re-launch of TIM outside of KKR’s takeover plan, it added. CDP and Vivendi are expected to meet again to discuss an alternative plan to KKR, the newspaper said.

UNICREDIT (CRDI.MI)

UniCredit’s German arm is set to take a significant portion of the around 3,000 voluntary redundancies expected under the Italian bank’s new business plan, a person close to the matter said. read more

The European Banking Authority (EBA) published its “transparency exercise” for the year, which provides 10,000 data points on 120 banks in the European Union, including UniCredit . read more

GENERALI (GASI.MI), BANCA GENERALI (BGN.MI)

The shareholder pact made up of Italian businessmen Francesco Gaetano Caltagirone and Leonardo Del Vecchio together with banking foundation Fondazione CRT has taken its overall stake in Generali to more than 15{3e92bdb61ecc35f2999ee2a63f1e687c788772421b16b0136989bbb6b4e89b73} after CRT raised its investment, Generali said on Saturday.

The pact is putting together a business plan it will unveil soon after the insurer presents its own plan, Il Sole 24 Ore said on Saturday. The plan will revolve around development of the asset management business of Banca Generali as well as organic and external growth.

Francesco Gaetano Caltagirone believes that Mediobanca’s (MDBI.MI) has hindered the insurance’s growth, La Stampa reported on Sunday. The alternative plan that Caltagirone and its partners are due to present will be based on digital development and investments in the asset management business and Banca Generali (BGN.MI), with the possibility to engage in M&A.

MAIRE TECNIMONT (MTCM.MI)

The Italian group has signed three EPC contracts worth in total $3.5 billion with Abu Dhabi Polymers Company Ltd(Borouge). The completion of the contract is expected by 2025, the group said on Sunday.

AUTOGRILL (AGL.MI)

Autogrill said on Friday it had completed the refinancing of the group’s debt through the early repayment of both the financing contract backed by SACE’s guarantee and the bank loan and the two bonds in place for its HMSHost unit. The group also signed the closing of a 1 billion euro financing that it had recently negotiated with a pool of banks. The refinancing allows the group to extend to 4.5 years the average maturity of its debt as of 31 December 2021 and removes a series of constrains and limitations to the group’s operations.

ENEL (ENEI.MI)

Enel said on Friday it had completes the sale of its 50{3e92bdb61ecc35f2999ee2a63f1e687c788772421b16b0136989bbb6b4e89b73} stake in Open Fiber for around 2.73 billion euros, posting a capital gain of some 1.76 billion euros with a positive effect on its net debt to the tune of 2.42 billion euros.

EDISON (EDNn.MI)

Credit Agricole Assurances has agreed to buy a 49{3e92bdb61ecc35f2999ee2a63f1e687c788772421b16b0136989bbb6b4e89b73} stake in the renewables business of Italian energy group Edison in a deal valuing the unit at more than 2 billion euros. read more

BANCO BPM (BAMI.MI), UNICREDIT (CRDI.MI), INTESA SANPAOLO (ISP.MI)

The three banks are part of a pool of banks providing a committed credit line for fast fiber infrastructure group Open Fiber to the tune of 7.175 billion euros, Open Fiber said on Friday.

MEDIOBANCA (MDBI.MI)

Mediobanca said on Friday it would start a buy-back of up to 25.9 million shares as of Dec. 6.

ATLANTIA (ATL.MI)

The shareholders of Italian infrastructure group Atlantia on Friday approved a share buy-back of up to 2 billion euros ($2.26 billion), the group said in a statement.

Bourse After Hours market closed.

BANCA INTERMOBILIARE (BIM.MI)

Starts capital increase; ends on Dec. 20.

DIARY

Rome, state broadcaster RAI holds news conference to present docu-series “Digital Resurgence Stories” with CEO Carlo Fuortes, Telecom Italia (TLIT.MI) (TIM) Chairman Salvatore Rossi (1100 GMT).

Rome, Atreju 2021 annual event starts (1330 GMT); ends on Dec. 12. On Monday debate on “Work in progress. The employment question in Italy, at the crossroads of production and solidarity” with Industry Minister Giancarlo Giorgetti, Foreign Minister Luigi Di Maio; ISTAT President Gian Carlo Blangiardo expected to attend (1645 GMT).

((Milan newsroom, +39 02 6612 9507, fax +39 02 801149,
[email protected]))

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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