Generali, Pirelli RE, Telecom Italia May Move Today: Italy Equity Preview
The following companies may be active in Italian trading. Stock symbols are in parentheses and share prices are from the previous close.
Italy’s benchmark FTSE MIB Index fell 532.02, or 2.3 percent, to 23,007.22 in Milan.
Assicurazioni Generali SpA (G IM): Private investors controlling about 13 percent of Italy’s biggest insurer want increased powers for Sergio Perissinotto at the head of the company, daily la Repubblica reported, without saying where it got the information. The investors, including Luxottica Group SpA’s Leonardo Del Vecchio and PPF Group NV founder Petr Kellner, met in Milan to discuss Generali, Repubblica said.
Perissinotto is currently co-chief executive officer with Sergio Balbinot. The insurer’s shareholders are due to meet April 24 to elect the new board.
The shares dropped 52 cents, or 2.9 percent, to 17.2 euros.
Pirelli & C. Real Estate SpA (PRS IM): The Italian real- estate company said there are no negotiations with potential new investors on the sale of a stake. Pirelli Real Estate received “many expressions of interest,” demonstrating “the soundness” of the company, it said.
The shares fell 1 cent, or 2 percent, to 48 cents.
Telecom Italia SpA (TIT IM): Italy’s communications regulator, Agcom, approved a plan that allows Telecom Italia SpA to raise the so-called unbundling fee it charges competitors who want to access its network for high-speed Internet services.
The stock declined 1.4 cents, or 1.2 percent, to 1.12 euros.
To contact the reporters on this story: Chiara Remondini in Milan at email@example.com