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☆ TIM to seek new round of higher bids for landline grid - sources
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: 1 min

MILAN, April 28 (Reuters) - Telecom Italia (TIM)'s (TLIT.MI) CEO Pietro Labriola is expected to propose to directors to seek further improvements of multi-billion bids for the company's landline grid at a board meeting on May 4, two sources familiar with the matter said on Friday. Rival suitors KKR (KKR.N) and a consortium comprising Italian state lender CDP and Macquarie (MQG.AX) have offered 21 billion euros ($23.2 billion) and 19.3 billion euros respectively, each raising their initial offers by one billion euros. ($1 = 0.9057 euros)Reporting by Milan newsroom; writing by Giulio Piovaccari, editing by Alvise ArmelliniOur Standards: The Thomson Reuters Trust Principles.

☆ Cellnex may flip from buyer to seller with new CEO
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 28 (Reuters Breakingviews) - Cellnex's (CLNX.MC) decision to pick former Telecom Italia (TLIT.MI) CEO Marco Patuano as its new boss increases the odds of seeing the 27 billion euro mobile phone tower operator returning to the M&A negotiating table – as a seller. The appointment ends months of boardroom infighting that culminated with the departure of former Chairman Bertrand Kan on April 4. He is a former CEO of the Benettons' holding company Edizione and previously led Telecom Italia between 2013 and 2016. His track record of carving out the former monopoly's mobile tower business INWIT may be significant. But while tackling the company's turnaround, Patuano may also be lured into takeover negotiations with heavyweight investors as industry consolidation is underway.

☆ Napoli on verge of first Serie A title in 33 years
▼ + stars: | 2023-04-27 | by ( Tommy Lund | ) www.reuters.com time to read: +3 min

Summary Napoli on brink of winning titleInter under pressureRoma battling injury issuesApril 27 (Reuters) - Runaway Serie A leaders Napoli could seal their third Scudetto in record fashion this weekend if they beat lowly visitors Salernitana and second-placed Lazio drop points at Inter Milan. Spalletti urged his Napoli players not to get ahead of themselves despite being tantalisingly close to ending the city's 33-year wait for the Serie A title since Diego Maradona led the team to two championships in 1987 and 1990. Salernitana have improved dramatically since Paulo Sousa took over from Davide Nicola in mid-February and have pulled well clear of the relegation scrap. Gian Piero Gasperini's seventh-placed Atalanta, who have 52 points, travel to Torino on Saturday while Juve, with 59 points, visit another mid-table side in Bologna on Sunday. Reporting by Tommy Lund in Gdansk; Editing by Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

☆ Juventus fans to be barred for racist abuse of Lukaku
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +1 min

ROME, April 24 (Reuters) - The Italian authorities will impose stadium bans on 171 Juventus fans found to have chanted racist abuse at Inter Milan striker Romelu Lukaku during a Coppa Italia semi-final earlier this month, police said on Monday. Lukaku was subjected to abuse during the first leg at Juventus "before, during, and after the penalty" he scored to earn Inter a 1-1 draw, the player's representatives said. The police did not specify the length of the bans that the fans would face for the offence. Inter fans also taunted their Juventus rivals during the game with chants referring to the 1985 Heysel stadium disaster, police added. Lukaku was sent off after receiving a second yellow card for his goal celebration during which he held his finger up to his mouth to silence Juventus fans.

☆ Lukaku's ban overturned in statement against racism
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +2 min

April 22 (Reuters) - Inter Milan striker Romelu Lukaku will play in the Coppa Italia semi-final second leg against Juventus on Wednesday after his one-match ban was overturned on Saturday by the president of the Italian Football Federation (FIGC) as a measure to fight racism. However, FIGC President Gabriele Gravina overturned the suspension after evaluating the report of the Federal Prosecutor's Office, the federation said. "The measure reiterates how the fight against all forms of racism constitutes one of the founding principles of the sporting system," it said. Lukaku was happy with the decision, saying the president had shown great sensitivity to the situation. "This has shown that the desire is there to fight racism."

☆ Inter disappointed as Lukaku ban upheld despite racist abuse
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

April 21 (Reuters) - Inter Milan expressed their disappointment after a one-match ban for striker Romelu Lukaku was upheld on Friday, saying the player has been punished despite being racially abused in their Coppa Italia semi-final against Juventus. Lukaku, who was sent off in the first leg of the semi-final, will remain suspended for the return against Juventus on Wednesday after the club's appeal was rejected by Italy's Sports Court Of Appeal. The Belgian striker was subjected to racial abuse during the first leg at Juventus "before, during, and after the penalty" he had scored to earn Inter a 1-1 draw, the player's representatives said. Juventus were ordered to close the Tribuna Sud section of their stadium after racist chants were heard coming from that area, a ban which was later overturned following the club's appeal. Reporting by Anita Kobylinska in Gdansk Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

☆ Italy narrows asylum rights in new clampdown on immigration
▼ + stars: | 2023-04-20 | by ( Crispian Balmer | ) www.reuters.com time to read: +2 min

The bill, which still needs the approval of the lower house to become law, was drawn up after a shipwreck off southern Italy in February that killed more than 90 migrants. Prime Minister Giorgia Meloni has said the legislation, which includes tougher jail terms for human smugglers, is intended to dissuade people from putting their trust in traffickers and trying to reach Italy illegally. Among the most contested measures is a decision to eliminate "special protection" residency permits that authorities can offer migrants who don't qualify for asylum, but who face humanitarian risks back home, or have family ties in Italy. The government said the system was being abused, noting that in 2022 authorities had handed out 10,506 special protection permits against 7,494 permits offering refugee status and 7,039 that granted a separate form of international protection. The bill also halts state-funded Italian language courses and eliminates legal advice services for migrants hosted in official reception centres.

☆ Inter relishing dream run to semi-final showdown against Milan - Inzaghi
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

MILAN, April 20 (Reuters) - Inter Milan coach Simone Inzaghi described their run to the Champions League semi-finals as a dream and said they will give it all they have got against city rivals AC Milan as they battle to become the first Italian finalists for six years. "It's historic, because of what they are doing, reaching both the Champions League and Coppa Italia semi-finals. "We know that some points were left on the road in the Italian league, but it's most because of a crazy schedule. The Milan teams have met twice in the Champions League knockout stages, the 2002-03 semis and 2004-05 quarter-finals with AC Milan, seven-times European champions, winning both ties. Inter and AC Milan will clash at the San Siro in the first leg on May 10 and on May 16 in the second leg.

☆ Juventus stadium ban for Lukaku abuse overturned
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

The Italian Football Federation (FIGC) said on Wednesday that all areas of the Allianz Stadium would be open after the sanction originally imposed by the sports judge had been annulled. Juventus were hit with the partial stadium closure after racist chants aimed at Lukaku were heard during their 1-1 first leg draw against Inter in the Coppa Italia. Italian news agency ANSA reported that Juve banned two fans from their stadium after video footage of the incident went viral. The club have appealed against the sanction and a decision is expected shortly. Reporting by Tommy Lund in Gdansk Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Italy's govt nominees for top jobs at Enel, Eni, Terna
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +3 min

Their appointments will need to be approved by investors at meetings scheduled for May 9 for Terna, and May 10 for both Enel and Eni. ENEL (ENEI.MI)Flavio Cattaneo, 59, is an experienced manager and entrepreneur who will leave his role as vice president of high-speed train operator Italo to succeed current Enel CEO Francesco Starace. Becoming Enel chairman would be for him a return to the utility where he served as CEO between 2002 and 2005. Scaroni also served as chief executive of energy group Eni between 2005 and 2014. ENI (ENI.MI)The Treasury proposed CEO Claudio Descalzi for a fourth term and picked Giuseppe Zafarana, 59, as chairman for the energy group.

The most surprising appointment was that of the new Enel chief Flavio Cattaneo, a seasoned corporate manager who leaves his role as vice president of high-speed train operator Italo to lead the country's biggest utility. He leap-frogged Stefano Donnarumma, the current chief executive of power grid Terna (TRN.MI), widely seen as Meloni's first choice. Enel shares were down 4% on Thursday, with investors fretting over Cattaneo's lack of expertise in the renewable energy sector. Leading politicians in Meloni's right-wing coalition said this issue was a major stumbling block for Donnarumma, along with pressure from League chief Salvini, a strong supporter of Cattaneo. Besides concessions on Enel, Meloni kept a tight grip on the rest of the main appointments.

☆ Italy's Berlusconi health conditions steadily improving, his doctors say
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] Former Italian Prime Minister and leader of the Forza Italia (Go Italy!) party Silvio Berlusconi attends a rally in Rome, Italy, April 9, 2022. REUTERS/Remo CasilliMILAN, April 10 (Reuters) - Former Italian Prime Minister Silvio Berlusconi's health condition is steadily improving as he is treated in hospital for a lung infection caused by chronic leukaemia, his doctors said on Monday. Doctors later revealed that Berlusconi had been suffering from Chronic Myelomonocytic Leukaemia (CML) "for some time" and that he had recently developed a pulmonary infection. "Cytoreductive, antimicrobial and anti-inflammatory therapies are producing the expected results, allowing us to express a cautious optimism," Zangrillo and Ciceri said.

☆ Italy's Berlusconi spends second night in hospital, friends hopeful
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +1 min

MILAN, April 7 (Reuters) - Former Italian Prime Minister Silvio Berlusconi spent a second night calmly in the intensive care unit of Milan's San Raffaele hospital and is reacting positively to treatment, Foreign Minister Antonio Tajani said on Friday. He has suffered from chronic blood cancer for some time and is in intensive care for a lung infection, his doctors said on Thursday. "(Zangrillo) told me he had a good sleep, that he is under intensive care and is reacting positively to the treatment," Tajani said. Berlusconi's Forza Italia party is part of Prime Minister Giorgia Meloni's right-wing coalition, though he does not have a direct role in her government. Meloni and Deputy Prime Minister Matteo Salvini said on Thursday they had spoken to Berlusconi by telephone.

[1/5] A supporter of former Italian Prime Minister Silvio Berlusconi stands near the 'San Raffaele' hospital, where former Italian Prime Minister is hospitalised, in Milan, Italy, April 7, 2023. REUTERS/Claudia GrecoMILAN, April 7 (Reuters) - Former Italian Prime Minister Silvio Berlusconi is "better than he was", his friend Fedele Confalonieri said on Friday after visiting him in hospital, where he is being treated for a lung infection caused by chronic leukaemia. "I'm sure he'll make it because he's a strong man, and because he's the best prime minister we've had in Italy. A friend of Berlusconi, Vittorio Sgarbi, said before he went into hospital the two had discussed his future. Berlusconi's Forza Italia party is part of Prime Minister Giorgia Meloni's right-wing coalition, although he does not have a direct role in her government.

☆ Italy ex-premier Berlusconi has leukaemia, source says
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] Forza Italia leader and former Prime Minister Silvio Berlusconi attends a session of the upper house of parliament ahead of a confidence vote for the new government, in Rome, Italy, October 26, 2022. REUTERS/Guglielmo MangiapaneMILAN, April 6 (Reuters) - Four-times Italian prime minister Silvio Berlusconi has been diagnosed with leukaemia, a source close to the matter said on Thursday. The source confirmed a report by the Corriere della Sera daily. The 86-year-old Berlusconi has been treated in intensive care since Wednesday in a cardiac unit of Milan's San Raffaele hospital, after suffering breathing problems. Reporting by Milan newsroom, editing by Alvise ArmelliniOur Standards: The Thomson Reuters Trust Principles.

☆ Former Italian PM Berlusconi in intensive care in hospital
▼ + stars: | 2023-04-05 | by ( Federico Maccioni Angelo Amante | Angelo Amante | ) www.reuters.com time to read: +2 min

[1/2] Forza Italia leader and former Prime Minister Silvio Berlusconi looks on following a meeting with Italian President Sergio Mattarella at the Quirinale Palace in Rome, Italy October 21, 2022. REUTERS/Yara NardiMILAN, April 5 (Reuters) - Silvio Berlusconi, who was Italian prime minister four times, is in intensive care in a cardiac unit at Milan's San Raffaele Hospital, political sources said on Wednesday. Berlusconi's Forza Italia party is part of Prime Minister Giorgia Meloni's right-wing coalition although he does not have a role in government. Three sources from Berlusconi's Forza Italia party said he was in intensive care, and one of them confirmed Italian media reports that he was being treated in a cardiac unit. An Italian court acquitted Berlusconi in February over allegations of paying witnesses to lie in an underage prostitution case that has dogged the former prime minister for more than a decade.

☆ European stocks extend recovery as banking fears ebb
▼ + stars: | 2023-03-28 | by ( Sruthi Shankar | ) www.reuters.com time to read: +2 min

The continent-wide STOXX 600 index (.STOXX) climbed 0.4%, extending its rebound after last week's market rout caused by the collapse of Credit Suisse and two mid-sized U.S. lenders. European banks (.SX7P) rose 1.2%, adding to Monday's 1.4% gain. Credit Suisse shares rose 1.7%. The European banks index was on track for its worst monthly showing since March 2020, when financial markets were roiled by pandemic fears. Embracer (EMBRACb.ST) tumbled 13.8% to the bottom of the STOXX 600 after the Swedish gaming group pushed back dates for expected completion of several deals announced last year.

☆ Meta says a network fee is not the fix for European telecoms firms' financial problems
▼ + stars: | 2023-03-23 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

Deutsche Telekom (DTEGn.DE), Orange (ORAN.PA), Telefonica (TEF.MC), Telecom Italia (TLIT.MI) and other operators have lobbied for two decades for U.S. tech giants to contribute to 5G and broadband roll-out. "We recognise the financial challenges that European telecom operators now face after decades of strong performance," Kevin Salvadori, Meta's vice president for network and Bruno Cendon Martin, its director and head of reality labs wireless, wrote in a blog post. "However, proposals by some European telecom operators to impose network fees on Content Application Providers (CAPs) such as Meta are not the solution," they said. It dismissed telecoms providers' arguments that the expansion of the metaverse, shared virtual worlds accessible via the internet, would strain infrastructure capacity. The development of the metaverse will not require telecom operators to grow capital expenditures for greater network investment," Salvadori and Martin said.

☆ Juve lack attacking options for Inter clash, says Allegri
▼ + stars: | 2023-03-18 | by ( ) www.reuters.com time to read: +2 min

March 18 (Reuters) - Juventus could be without Angel Di Maria and Federico Chiesa for Sunday's Serie A match at Inter Milan as the Turin club battles a growing injury list, manager Massimiliano Allegri said. Both have struggled with injuries this season and Allegri said on Saturday they could join Leonardo Bonucci, Alex Sandro, Arkadiusz Milik and Paul Pogba as injury absentees. Moise Kean is also suspended after he was sent off in their 1-0 loss against AS Roma earlier this month. We don’t have options up front without Kean and Milik, we have (Matias) Soule but only (Dusan) Vlahovic as a starting striker," Allegri said. "It’s important and difficult in Milan because six-pointers are always difficult to play," Allegri added.

☆ Rome hopes to reverse decline and relive La Dolce Vita
▼ + stars: | 2023-03-17 | by ( Giselda Vagnoni | ) www.reuters.com time to read: +6 min

[1/5] General view of the Colosseum next to a subway's construction sites in Rome, Italy, February 16, 2023. However, flailing public services can make La Dolce Vita seem a remote dream, for both visitors and residents alike. "It is the biggest investment plan Rome has ever had," Gualtieri told Reuters. "Milan was turned around by the EXPO and has become a city capable of attracting capital from all over the world. Rome is an incredible place and second to none," Luca Luciani, head of BAI Communications Italia, told Reuters.

☆ TIM to ask CDP-Macquarie to raise network bid, sources say
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +2 min

The joint offer values TIM's grid at some 18 billion euros ($19.3 billion), including debt, sources have said. KKR, which already owns a minority stake in TIM's grid, offered up to 20 billion euros, including a 2 billion euros earnout mechanism - a valuation which was also billed as too low by TIM last month. The TIM board will meet on Wednesday to draw up a response to the CDP-Macquarie preliminary bid. Vivendi has indicated a price tag of 31 billion euros to back selling the grid. TIM itself has indicated a valuation of 25 billion euros, sources told Reuters last year.

☆ Bolloré Jr. readies Vivendi for asset purge
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +2 min

But the markdown gives Yannick more latitude to end his father’s ill-fated Italian foray while continuing to play hardball to raise the price tag. Here again, the move will give Bolloré junior more freedom to consider offers from potential buyers, which the European Commission will have to approve. At 70, the elder Bolloré, who remains in charge of the family holding that owns a 30% stake in Vivendi, is gradually implementing his succession plan. At 9.8 euros, Vivendi’s stock fails to capture the value of its various investments and trades below an analysts’ target of between 12 to 15 euros. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Morning Bid: Hopeful market awaits Powell testimony
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +2 min

Coming off its best weekly performance since start of the year, the continent-wide STOXX might aim for another record high as traders await January retail sales data for the Eurozone later in the day. Hawkish rhetoric from Fed speakers continued over the weekend, with San Francisco Federal Reserve Bank President Mary Daly the latest to sound a warning on the inflationary threat. The market largely expects Powell to be hawkish this week but given his testimony comes before the jobs report is released, he will likely aim to keep all options open. Over in China, the country's leadership set a 5% target for economic growth this year, which analysts called conservative and pragmatic, as they kicked off the annual session of the National People's Congress. In the corporate world, Italian state lender CDP has bid for the fixed-line network of former phone monopoly Telecom Italia, rivalling an offering from U.S. firm KKR.

☆ Telecom Italia boosted by rival offer for landline grid
▼ + stars: | 2023-03-06 | by ( Elvira Pollina | ) www.reuters.com time to read: +2 min

TIM is betting on a sale of its most prized asset to cut its 25 billion euros debt pile and fund an overhaul of the revenue-starved group. Both offers value TIM's grid, which is Italy's main piece of telecoms infrastructure, in the region of 18 billion euros ($19.2 billion), sources familiar with the matter said. "The news is positive for TIM as a second approach increases its bargaining power," broker Equita wrote in a research note. The shares were up around 3.5% at 0.32 euros at 0900 GMT, levels not seen since last April. Regulation issues remain a hurdle for the new bidders, as CDP and Macquarie own TIM'smaller rival Open Fiber.

CDP has teamed up with Australian infrastructure fund Macquarie (MQG.AX) to bid for Italy's most important telecommunications infrastructure, for which U.S. investment firm KKR (KKR.N) has already presented an offer. One of the people familiar with the matter said that CDP board members were set to meet at 3 p.m. (1400 GMT) to approve the offer. In recent weeks, sources have told Reuters that CDP-Macquarie and KKR have both set an 18-billion-euro ($19 billion) enterprise value for TIM's grid. CDP's offer would also involve TIM's smaller fibre-optic network rival Open Fiber, which is owned by CDP and Macquarie and would be folded into TIM's grid down the road. Under Italian rules, Rome has the power to block unwanted interest for assets of strategic importance such as TIM's grid.

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