The world’s fourth-largest carmaker said on Friday it had entered exclusive talks with BNP Paribas (BNPP.PA), Credit Agricole (CAGR.PA) and Santander (SAN.MC) as it seeks to overhaul its financing operations in Europe through new partnerships. read more
The downward spiral of industry-wide new car registrations in Europe since July is easing, Europe’s auto association ACEA data showed on Friday, with the number of new vehicles registered in November down 17.5% compared to a 30% fall the previous month.
CARIGE (CRGI.MI), BPER (EMII.MI)
Italian banks that own Carige on Thursday refused to pay mid-sized peer BPER 1 billion euros to take the ailing rival off their hands, but left the door open to further discussions. read more
Snam is considering the sale of a minority stake in its gas storage unit worth up to 6 billion euros and is working with Goldman Sachs and Credit Suisse to study its options, two sources said. A Snam spokesman on Thursday said the company was currently not in talks to sell a stake in its gas storage unit. read more
TELECOM ITALIA (TLIT.MI)
Telecom Italia has issued its third profit warning this year ahead of a board meeting on Friday that is expected to take more time before acting on a takeover offer from U.S. fund KKR. read more
(*) The contribution to TIM’s revenues from the agreement with streaming service Dazn could be around 540 million euros lower than the company’s estimates, la Repubblica wrote on Wednesday, citing an audit by consulting firm PWC.
(*) KKR is ready to invest 30 billion euros to upgrade TIM’s network on top of the 11 billion euros offered for the buyout of the company, La Stampa said, citing sources close to the U.S. fund.
Enel approved the issuance of hybrid bonds for up to 3 billion euros.
Italy’s Nexi put the final word to its tie up with domestic rival SIA on Thursday by signing the merger deed to create one of Europe’s largest payment groups. read more
POSTE ITALIANE (PST.MI)
Poste Italiane and state lender CDP said they reached an agreement until 2024 on postal savings.
(*) The Italian diagnostics firm forecast weaker 2022 sales as COVID-19 revenues plunged nearly 60%, with the rapid roll-out of vaccines likely to bring the pandemic under control and crimp demand for the company’s tests. read more
‘Investor Day’ to present strategic plan (1200 GMT) in Milan.
The Italian soccer club said on Thursday a rights issue to buy shares in a 400 million euros ($452.7 million) capital increase had been 91.75% percent subscribed
(*) CAMPARI (CPRI.MI)
Deutsche Bank cut its target price on the stock to 12.10 euros from 12.35 euros.
BANCA MONTE DEI PASCHI DI SIENA (BMPS.MI)
Board meeting to approve industrial plan.
Extraordinary shareholders’ meeting to approve new governance structure (0830 GMT).
FINE FOODS & PHARMACEUTICALS NTM (FF.MI)
Ends full mandatory takeover bid on Euro Cosmetics (EC.MI) ordinary shares.
Cybersecurity sector company debuts on Euronext Growth Milan.
Turin, new car manufacturer Bermat holds official presentation of ‘GT Pista’ model to the press (0930 GMT) and to the public (1700 GMT).