Interactive Group announced its intention to Consob want to keep unaltered at 23 August 2002, the maturity of its takeover bid on all ordinary shares issued by Freedomland. The company announced in a statement.
Ciments Français, the French subsidiary of Italcementi, will launch a takeover bid on the shares of its Greek subsidiary Halyps Building Materials, listed on the Athens Stock Exchange. The offer must receive the approval of the Greek stock (CMC) within 10 days from the filing and will last for 30 days after its approval. At the end of the offer will be launched with the cancellation of the company from list. Ciments Français, holds 94.75% of ordinary shares el’88, 6% of the shares of preferential Halyps. The offering includes 975,979 ordinary shares of nominal value of 1.26 euros, representing 5.25% of total ordinary shares and 4.53% of total capital of Halyps.
“You know he won across the board, leaving no room for the Florentine company,” said an analyst of a SIM in Milan who prefers not be named. “Can you be born a great, despite the name chosen, which will Fondiaria-Sai.” The ‘talking heads’ of the group will in fact all of the company’s adoption of Turin: the CEO of the merged entity will be Carlo Ciani, former ad Sai, who will also reflect the general manager Marchionni, who will take the same position in the new company. Roberto Gavazzi offered the vice presidency, “which amounts to a substantial exclusion from the control room,” continues the analyst. “Gavazzi, in my opinion, might not take the job, given the downsizing.” The board will consist of 11 members, half and half of expression Sai Fondiaria, plus an independent director. The only consolation for the Florentines: the headquarters will be in Florence. The merger will not be so fast, “and Richieri, including the convening of extraordinary meetings, implications and consequences, even six months. In the meantime I do not think the titles will have a wide appeal, as the new group, born with a burden of debt latent and tired to the battle as a whole must demonstrate profitability and development, “concludes the analyst.
Traveling in sharp contrast the two titles targati Telecom Italy. Despite the positive view expressed by Dresdner Bank (buy with a target to 14 euros), Telecom Italy is blaming a decline of 0.70% to 8.80 euros. On the upside, however, Telecom rnc: +1.4% to 5.77 euros, on top of the day. Discrete volume (11.5 million units). Remember that today Telecom has ripped out the coupon (0.3125 euros per ordinary and 0.3227 for savings).
They come in late trading on the savings shares and preferred Olivetti. The two classes of shares have reached the price of 4 euros, a day after the board of the group Colaninno decided to convert into ordinary shares of the two categories.
After a long wait, the Cofide are able to enter into contracts to 11:55. The ordinary hours quoted rnc 1.8 euro and 3.49 euro. To propel the title there is the strong increase in the target price set by a foreign investor is the rumors of an alliance with the Anglo-Dutch CMG. Other assumptions, however, unconfirmed reports speak of an agreement with a provider amenricano or the creation of an incubator with a broader scope than Cirlab, which is meant mainly to Italian companies.
The Council of Ministers today approved a bill that initiates the reform of severance pay, making it converge in pension funds with favorable tax rate (11%) than that of ordinary law on financial income (12.5%). The project, which will now pass to considering Chambers, palatability may return to the securities insurance, a bit ‘blurred in recent months.
In Venice, the heads of Telecom Italy, stated that it is not expected to issue savings shares in the next quotation Tin.it. So for savings shareholders, according to market participants, opens the possibility of ordinary shares Tin.it. Meanwhile, Telecom savings shares are still suspended, while Telecom is gaining 4.05%.
Between Seat and Tin.it marriage was fixed, the bouquet outfit are ready, but the details of the ceremony are still lacking. The summary of the board of Telecom, which took place yesterday. The only thing clear about the equality of treatment which will be paid to ordinary shareholders and to those savings in relation to actions Tin.it. But the opening of the financial market there was no evidence of the surge in telecom savings as many expected. “The action RNC had already discounted the news in recent sessions”, provide an analyst with a SIM in Milan, “Furthermore, the fact that there are ways and announced details of the transaction has left many doubts about treatment. What is certain is that for an investor is much more convenient to buy savings shares compared to the normal because, with a much lower investment (the ratio of ordinary savings is 2.2 to 1) you get the same rights to obtain shares in the portfolio of Internet Group telephone.
The housing industry is in turmoil. The proof is given by the interest received from securities industry, all shown above. But only some of them base their rise on positive reasons. “Beni Stabili has an interesting title because it is surrounded by rumors of extraordinary transactions currently underway, the operation that could materialize soon,” says an analyst in a note sim Milan, “Other securities have characteristics that justify this rather violent movement.”
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