August 25th, 2008 | by admin |
MILAN, Aug 25 (Reuters) - The following factors could affectItalian markets on Monday.
Reuters has not verified the newspaper reports, and cannotvouch for their accuracy. New items are marked with (*).
ALITALIA (AZPIa.MI: Quote, Profile, Research, Stock Buzz)
Italy's latest plan to rescue Alitalia includes seekingbankruptcy protection for its troubled units before resuming thehunt for a foreign partner, a political source said on Friday,ahead of a crucial week for the stricken airline.
For a story, double click on [nLM531541].
The new company would have 15 new investors, includingRoberto Colaninno as reference shareholder with an investment of150-200 million euros, Milano Finanza said on Saturday withoutciting sources; Colaninno would be chairman and Rocco Sabellichief executive; banks Intesa Sanpaolo (ISP.MI: Quote, Profile, Research, Stock Buzz) and Mediobanca(MDBI.MI: Quote, Profile, Research, Stock Buzz) would each put in 100 million euros, while Nomura andMorgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) 50 million euros to 70 million euros.
Carlo Toto, who heads Air One, would sell his stake in therival airline and invest 100 million euros, Milano Finanza said.
Alitalia is expected to have lost 400 million euros in thefirst half of the year, nearly double what it lost in the sameperiod in 2007, according to Il Sole 24 Ore and La Stampa onSunday; the reasons for the wider loss include higher fuel costsand lower passenger numbers; the airline will publish results atthe end of this week.
PININFARINA (PNNI.MI: Quote, Profile, Research, Stock Buzz)
If the car designer and manufacturer succeeds in raising 100million euros via a capital increase this year, the operationwould have two tranches, Il Messaggero said on Saturday; one ofthem would be for 40 million euros in the form of warrantsconvertible into shares at parity in two to three years; Frenchfinancier Vincent Bollore, with whom Pininfarina is building anelectric car, could end up with a 15 percent stake in thecompany, up from a previously expected 5-10 percent.
BANCA POPOLARE DI MILANO (PMII.MI: Quote, Profile, Research, Stock Buzz)
The cooperative bank has obtained from the central bank twomore weeks to prepare a proposal to change its governancestructure, Corriere della Sera said on Saturday; the newdeadline is Sept. 12; its structure has been criticised forgiving employee shareholders too much influence over management.
IFI (IFPI_p.MI: Quote, Profile, Research, Stock Buzz), IFIL (IFLI.MI: Quote, Profile, Research, Stock Buzz)
The Agnelli family have bought the remaining 7.3 percentthat Amber Capital LLP owned in their holding company, Ifi, LaRepubblica said on Saturday; the purpose could eventually leadto the family merging Ifi and Ifil, another one of its holdingcompanies which owns a controlling stake in Fiat (FIA.MI: Quote, Profile, Research, Stock Buzz).