Exor, Parmalat, Enel Green, Intesa: Italian 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 (FTSEMIB) fell 82.02, or 0.4 percent, to 22,315.68 in Milan.
Exor SpA (EXO) : The Agnelli family’s investment company and News Corp. are considering the possibility of making a joint bid for the Formula One car racing competition, Exor said in a joint statement. Exor said the companies will seek other investors to join a bidding group. Formula One Chief Executive Officer Bernie Ecclestone said earlier he was unaware of any bid being made. Formula One is owned by CVC Capital Partners Ltd., a London-based private equity company. Exor declined 0.3 percent to 24.56 euros.
Parmalat SpA (PLT) : The dairy company said it named Goldman Sachs Group Inc. to advise on a 3.4 billion-euro ($5 billion) takeover offer by Groupe Lactalis, which wasn’t solicited. Parmalat gained 1.3 percent to 2.60 euros.
Enel Green Power SpA (EGPW) : The renewable energy unit of the Italian utility Enel SpA said it started building a 70- megawatt wind farm in Corugea, eastern Romania, which will produce enough electricity to meet the needs of 70,000 households a year. The stock fell 1.4 percent to 1.95 euros.
Intesa SanPaolo SpA (ISP) : Financier Romain Zaleski said Intesa investor Carlo Tassara SpA won’t subscribe to the Italian bank’s planned share sale, news agency Radiocor reported. Intesa increased 0.3 percent to 2.23 euros.
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