Bloomberg News

Fiat, Fondiaria, Telecom Italia Media: Italian Equity Preview

June 06, 2011

June 6 (Bloomberg) -- 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 gained 108.99, or 0.5 percent, to 20,809.92 on June 3.

Fiat SpA (F IM): Fiat and Chrysler Group LLC Chief Executive Officer Sergio Marchionne said on June 4 that he expects management changes in coming months as he steps up the two carmakers’ integration. Turin, Italy-based Fiat on June 2 submitted an offer to buy Canada’s holding in Chrysler that values the stake at $125 million, Marchionne said. The shares climbed 25.5 cents, or 3.6 percent, to 7.36 euros.

Fondiaria-SAI SpA (FSA IM): The insurer will appoint Piergiorgio Peluso, UniCredit SpA’s former corporate banking chief for Italy, as general manager at a board meeting on June 6, il Sole 24 Ore reported, without saying how it obtained the information. The stock retreated 19 cents, or 3.4 percent, to 5.39 euros.

Telecom Italia Media SpA (TME IM): Telecom Italia SpA’s television unit may seek a majority investor to take a stake of as much as 40 percent by year-end, il Fatto Quotidiano reported, citing Chief Executive Officer Giovanni Stella.

Carlo De Benedetti is “one among many options,” Stella was quoted as saying. The shares increased 0.3 cents, or 1.6 percent, to 19.3 cents. Telecom Italia dropped 0.75 cents, or 0.8 percent, to 96.95 cents.

--Editors: David McQuaid, Mark McCord

To contact the reporter on this story: Marco Bertacche in Milan at mbertacche@bloomberg.net;

To contact the editors responsible for this story: Angela Cullen at acullen8@bloomberg.net; Andrew Rummer at arummer@bloomberg.net


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