Chief Financial Correspondent, Italy, Milan
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Aug 28, 2014

Telecom rivals battle for Vivendi’s Brazil broadband unit

PARIS/MILAN (Reuters) – The battle over Brazil’s telecoms market intensified on Thursday as European competitors Telecom Italia and Telefonica made rival offers for Vivendi’s Brazilian broadband business GVT.

Vivendi, which will examine the bids at a Thursday board meeting, must now choose whether to exit its last remaining telecom business after selling off its French and Moroccan mobile operations to focus more on media.

Aug 8, 2014

China central bank pushes on with Italy stake acquisitions

MILAN (Reuters) – Unfazed by Italy’s gloomier economic outlook, China’s cash-rich central bank is snapping up stakes in high-profile Italian companies and has invested around 3 billion euros in blue-chip firms as it seeks to diversify beyond government debt.

Filings from stock market watchdog Consob showed on Friday that the People’s Bank of China now owns 2.014 percent of Generali (GASI.MI: Quote, Profile, Research, Stock Buzz), Italy’s biggest insurer and Europe’s third-largest sector player by market capitalization. The stake is worth 471 million euros at current market prices.

Aug 3, 2014
Jul 31, 2014

Italy rebound helps lift Generali’s operating profit

MILAN, July 31 (Reuters) – Generali posted a 20.4
percent increase in operating profit in the second quarter
helped by a shift towards higher-margin insurance products and a
surprisingly strong performance in crisis-hit Italy.

The second quarter marked the end of an intense phase of
disposals, a centerpiece of CEO Mario Greco’s turnaround
strategy, that have helped Generali boost its capital base.

Jul 15, 2014
Jul 8, 2014
Jul 8, 2014

Italy’s banks ready to sell up to 16 bln euros in bad loans by 2016

MILAN, July 8 (Reuters) – Italian banks are preparing to
sell between 10 billion euros and 16 billion euros of bad loans
over the next two years to free up capital to support new
lending to companies and households and to improve profits, a
survey by Deloitte showed.

This would represent up to 10 percent of a record 166
billion euros ($226.43 billion) of sour loans on the banks’
books built up as a result of Italy’s two-year recession, its
worst in 70 years.

Jul 7, 2014
Jul 4, 2014

Italy’s Bonomi targets comeback with Club Med bid

MILAN/PARIS, July 4 (Reuters) – Late on May 23, Italian
financier Andrea Bonomi phoned executives at his country’s two
largest banks seeking more than 200 million euros ($273 million)
in loans to help him bid for French holiday resort company Club

For the 48-year-old businessman, taking over Club Med, a
storied brand struggling to improve profitability, would be the
biggest challenge since he revived the fortunes of motorcycle
maker Ducati in the mid-2000s.

Jun 27, 2014

Monte Paschi raises 4.99 bln euros in rights issue

MILAN, June 27 (Reuters) – Italy’s Banca Monte dei Paschi di
Siena said on Friday it had raised 4.99 billion euros
($6.81 billion) through the sale of new shares, boosting its
capital base and increasing the chances it could pass an EU
review of bank assets.

Monte dei Paschi, Italy’s No.3 bank by branches, is one of
15 Italian lenders targeted in a health check of euro zone
lenders by the European Central Bank before it takes over
supervision of the sector in November.

    • About Lisa

      "I have been a correspondent for 13 years, reporting on banks, financial regulation and EU politics from London, Brussels, Zurich and Milan. I have also written about a variety of business sectors, general news, the arts and sport. As Chief Financial Correspondent for Italy, I keep a close eye on top Italian business stories, particularly Fiat and banking."
      Joined Reuters:
      English, Italian, French, German, Dutch, Spanish
      2010 Reuters Star Performer Award
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