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Mar 3, 2015

European Banking Authority will not run stress tests in 2015

MILAN (Reuters) – The European Banking Authority (EBA) will not this year run stress tests to gauge whether European banks have sufficient core capital to withstand shocks to the system, it said on Tuesday.

“Instead of a stress test, in 2015 EBA will be running a transparency exercise in line with the one conducted in 2013,” it said in a statement on its website.

Feb 25, 2015

Italy’s EI Towers bids 1.2 bln euros for mast company Rai Way

MILAN, Feb 25 (Reuters) – Italian tower operator EI Towers
plans to offer to 1.2 billion euros ($1.4 billion) for
domestic rival Rai Way SpA in a cash and paper deal
that will create a leading player in the television and radio
mast sector.

EI Towers said it would offer Rai Way investors the
equivalent of 4.5 euros per share in a statement late on
Tuesday. The price is a premium of around 22 percent to
Tuesday’s closing price.

Feb 19, 2015

Enel suspends Romania sale after debt reduction target reached

MILAN, Feb 19 (Reuters) – Italian utility Enel SpA
has suspended the planned sale of assets in Romania after
achieving a 2014 debt reduction target, a spokesman for the
company said on Thursday.

Enel, one of Europe’s most indebted utilities, had earmarked
the sale of distribution assets in Romania as part of a broader
disposal programme designed to raise up to 4 billion euros ($4.6
billion) by the end of 2014.

Feb 18, 2015

Eni reassures on dividend, gears up for investment cuts

MILAN, Feb 18 (Reuters) – Italy’s Eni reassured
investors with a small dividend increase on Wednesday and
pledged to cut capital spending after lower oil prices depressed
fourth quarter profit.

Larger energy companies, including BP and Total
, have also said they do not intend to cut their
dividends, a key attraction for investors, even if oil prices
remain low.

Feb 16, 2015

Saipem misses guidance due to balance sheet clean up, wary on 2015

MILAN, Feb 16 (Reuters) – Italian oil services group Saipem
missed full-year forecasts on Monday and gave a wary
outlook for 2015 after booking more than 500 million euros ($567
million) of charges to clean up a balance sheet damaged by
falling oil prices.

“The business will continue to face industry headwinds as we
move through 2015,” Chief Executive Umberto Vergine said in a
comment on results.

Feb 12, 2015

Italy aims for planned sale of Enel stake by end-March – sources

MILAN, Feb 12 (Reuters) – Italy is trying to wrap up the
planned sale of a 2 billion euro minority stake in top utility
Enel by end-March, paving the way for more asset
disposals, sources close to the matter said.

The Treasury, which owns 31 percent of Enel, last year said
it wanted to sell up to 6 percent of the utility by the end of
2014, but postponed the sale because of choppy financial
markets.

Feb 11, 2015

Italy utilities celebrate scrapping of “Robin Hood” tax

MILAN, Feb 11 (Reuters) – A tax levied on some of Italy’s
leading energy firms was struck down by a top court on Wednesday
in a move that will cut state revenues by 1 billion euros and
boost earnings at utilities such as Snam, Terna
and Enel.

Italy’s constitutional court ruled that the so-called “Robin
Hood” tax introduced in 2008 was unconstitutional, adding
however that its verdict was not retroactive.

Feb 6, 2015

Saipem bags $1.8 bln Kashagan contract

MILAN, Feb 6 (Reuters) – Italian oil service company Saipem
said on Friday it had won a contract to lay
replacement pipelines at the giant Kashagan field in Kazakhstan,
worth around $1.8 billion.

Last month sources with knowledge of the matter told Reuters
Saipem was in pole position to win the pipeline contract which
could be worth up to $2 billion.

Feb 5, 2015

Italy restarts the clock on Enel stake sale – sources

MILAN, Feb 5 (Reuters) – Italy is preparing for another
attempt at selling a stake in utility Enel worth just
shy of 2 billion euros ($2.3 billion) for stretched state
coffers, two sources close to the matter said.

The government has said it would sell a stake in the power
group by the end of the year and two sources on Thursday said
the Treasury has asked its advisers to monitor the market in
preparation.

Jan 30, 2015

Monte dei Paschi shares fall as capital concerns mount

MILAN, Jan 30 (Reuters) – Shares in Italy’s Banca Monte dei
Paschi di Siena fell victim to concerns over its
capital needs on Friday after people close to the matter said
the bank might raise the size of a planned cash call to meet
regulatory demands.

Two sources told Reuters late on Thursday the troubled
lender was considering an increase in its planned share issue to
around 3.5 billion euros ($4 billion), one billion euros more
than initially planned. The increase is being considered at the
behest of the European Central Bank (ECB), these people said.

    • About Stephen

      "Based in Milan, I cover the Italian energy sector for the Italian team. I have followed energy in Italy for the last 10 years, previously for Bridge News, AFX and Thomson."
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