Agnieszka's Feed
Nov 6, 2015

Vivendi will not oppose Telecom Italia stock conversion-source

MILAN/PARIS (Reuters) – Telecom Italia’s biggest shareholder, Vivendi(VIV.PA: Quote, Profile, Research, Stock Buzz), will not oppose the conversion of savings shares into ordinary stock despite the resulting dilution of the French media group’s 20 percent stake, a person familiar with the matter said.

Telecom Italia’s board approved the proposal for conversion of its 6.03 billion savings shares on Thursday, in a move that helps it raise cash but also dilutes the holdings of the two French business tycoons who have recently taken an interest in the company.

Nov 5, 2015

Telecom Italia to convert saving shares to raise cash

MILAN, Nov 5 (Reuters) – Telecom Italia has
decided to go ahead with a conversion of its more than 6 billion
saving shares into ordinary stock to raise cash, in a
move which would dilute the grip on the company of its two
French investors.

Vincent Bollore’s Vivendi has gradually built up a
stake of just over 20 percent to become Telecom Italia’s top
shareholder, while tycoon Xavier Niel bought call options last
month that could potentially turn him into its second-largest
investor, raising questions about their ambitions for the
indebted company.

Oct 30, 2015

Telecom Italia shares at seven-hear high as tycoon adds to stake

MILAN (Reuters) – Telecoms tycoon Xavier Niel has increased his stake in Telecom Italia (TLIT.MI: Quote, Profile, Research, Stock Buzz) to just over 15 percent of the voting rights, strengthening his position as the carrier’s second-largest shareholder and catching up on top investor Vivendi (VIV.PA: Quote, Profile, Research, Stock Buzz).

While Niel has not publicly stated his intentions, his arrival means fellow billionaire Vincent Bollore, the largest shareholder of Vivendi, will have to take him into account as Vivendi seeks to influence Telecom Italia’s future.

Oct 28, 2015

Fiat Chrysler hit by $670 million charge for North America recalls

MILAN/DETROIT (Reuters) – Fiat Chrysler Automobiles (FCA) (FCHA.MI: Quote, Profile, Research) (FCAU.N: Quote, Profile, Research) Chief Executive Sergio Marchionne said on Wednesday the company will make a new large SUV for the U.S. market, attacking one of the most profitable franchises for rivals General Motors Co (GM.N: Quote, Profile, Research) and Ford Motor Co (F.N: Quote, Profile, Research).

Marchionne used a conference call scheduled to coincide with third-quarter results to outline new details of his strategy to boost profits in North America, and signalled he is adjusting strategy for luxury brands Alfa Romeo and Maserati to compensate for slowing demand in China.

Oct 28, 2015

Fiat Chrysler hit by $670 million charge for U.S. recalls

MILAN (Reuters) – Shares in Fiat Chrysler Automobiles (FCA) (FCHA.MI: Quote, Profile, Research, Stock Buzz) were hit on Wednesday after it made a surprise provision against the costs of vehicle recalls in North America, overshadowing a 35 percent rise in its third-quarter underlying operating profit.

The Milan-listed shares reversed early gains made on third-quarter operating results to fall more than 4 percent after the carmaker said it had booked a 602 million-euro ($667 million) after-tax charge, mainly for estimated future recall costs.

Oct 28, 2015

Fiat Chrysler hit by $670 mln charge for US recalls

MILAN, Oct 28 (Reuters) – Shares in Fiat Chrysler
Automobiles (FCA) were hit on Wednesday after it made
a surprise provision against the costs of vehicle recalls in
North America, overshadowing a 35 percent rise in its
third-quarter underlying operating profit.

The Milan-listed shares reversed early gains made on
third-quarter operating results to fall more than 4 percent
after the carmaker said it had booked a 602 million-euro ($667
million) after-tax charge, mainly for estimated future recall
costs.

Oct 21, 2015

Ferrari shares race ahead 15 pct on Wall Street debut

NEW YORK/MILAN (Reuters) – Ferrari (RACE.N: Quote, Profile, Research, Stock Buzz) shares jumped 15 percent to $60 on its Wall Street debut on Wednesday after the Italian supercar maker priced its share offering at the top of the range amid heavy investor demand.

Limiting the offering to a 10 percent stake helped parent Fiat Chrysler Automobiles (FCA)(FCHA.MI: Quote, Profile, Research, Stock Buzz) to leverage the scarcity factor to squeeze out value, defying a choppy U.S. market on which several big initial public offerings (IPOs) have been discounted or delayed this year.

Oct 20, 2015

Like its cars, Ferrari shares won’t come cheap or easily

MILAN, Oct 20 (Reuters) – Alessia Scipione played in Ferrari
bumper cars as a child, avidly follows her favourite team during
Formula One races and when the Italian sportscar maker goes
public on Wall St on Wednesday she may get a chance to own a
small piece of it.

Or so she hopes, because like its sportscars with the
prancing horse logo, the shares will not be cheap or easy to buy
with Ferrari enthusiasts worldwide clamouring to buy into a
brand with a cult-like status.

Oct 12, 2015

Ferrari needs more than racy market debut to stay ahead

MILAN (Reuters) – Ferrari is being launched as a luxury stock for its Wall Street debut but may struggle to justify such a valuation in the long run given its profit margins and the investment needed to put its prancing horse logo on other products.

Fiat Chrysler Automobiles (FCA) is offering a 10 percent stake in Ferrari at $48-$52 a share, a price that would give the maker of famous sports cars such as the Testarossa a market capitalization of up to $9.8 billion.

Sep 15, 2015

Ferrari sees stable sales in greater China this year

FRANKFURT, Sept 15 (Reuters) – Ferrari expects stable sales
in greater China this year, as stronger demand for its luxury
sportscars in Hong Kong and Taiwan offsets weaker sales in the
mainland, Enrico Galliera, senior vice president of its
marketing division, said on Tuesday.

“While China is slowing down, there are other markets like
Hong Kong and Taiwan that are doing really well,” Galliera told
journalists at the Frankfurt auto show, while playing down the
importance of China to Ferrari.