Business
Italy - Factors to watch on October 6
Italy - Factors to watch on October 6
About this update from Saipem S.p.a.
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 .ECONOMYRome is working closely with the European Commission to press the United States to reconsider an additional anti-dumping tariff on pasta imports which would effectively double their price, the Italian foreign ministry said.COMPANIESBANCA MONTE DEI PASCHI DI SIENA (MPS) MIL:BMPS, MEDIOBANCA MIL:MB, BANCO BPM MIL:BAMIThe Economy Ministry held a 4.9% stake in the Tuscan bank after its bid for Mediobanca ended on September 29, a filing by Italy's market watchdog showed on Friday. The Del Vecchio family and billionaire Francesco Caltagirone held respectively 17.5% and 10.3% in the state-bank lender, the same filing showed. After an initial meeting in Siena last week between the managers of the two banks, a new one is scheduled for Wednesday in Milan, to discuss the reorganisation of the business of the lenders, Corriere della Sera reported on Sunday.The plan is to integrate Mediobanca's "industrialised" activities, such as Compass' consumer credit and Premier asset management, with those of MPS, with the aim of expanding abroad, the report added. In addition, the idea is to double the value of Mediobanca's private banking assets, currently worth about 31 billion euros, Corriere della Sera added.(*) GENERALI MIL:GThe three largest shareholders in MPS, which in turn holds a 13% stake in Generali, aim to renew the newly-formed board of the insurer, Corriere della Sera's L'Economia supplement on Monday reported, adding, however, that CEO Philippe Donnet and Chairman Andrea Sironi have no intention of resigning. ANIMA MIL:ANIMThe asset manager said on Friday Chief Executive and Director General Alessandro Melzi d'Eril was stepping down. The top manager has been proposed as the new CEO of Mediobanca by Monte dei Paschi.Pierluigi Giverso, Anima's joint general manager and chief business officer, would be "the most natural" choice as new CEO, Corriere della Sera reported on Saturday.The fund manager is scheduled to hold a board meeting on Monday. STELLANTIS MIL:STLAM The French-Italian-American automaker is planning to invest about $10 billion in the United States, Bloomberg News reported on Saturday, citing people familiar wit...