Italy factors to watch on September 25
EWI•Italian markets face a government dispute with statistics bureau ISTAT over the 2025 public finance target, a €7.5 billion Treasury bill auction and a Moody’s rating review. Poste Italiane held 75.6% of Telecom Italia as its takeover bid neared closure, below the 90% delisting threshold.
1. Economy and debt
Italy’s government is challenging statistics bureau ISTAT after it reported that Rome missed its key 2025 public finance target, leaving the country in an EU disciplinary procedure over its excessive budget deficit. The Treasury is offering €7.5 billion in BOTs, and Moody’s is reviewing Italy’s sovereign rating. The Treasury also said it would sell up to €8 billion in bonds at a September 29 auction.
2. Company developments
Poste Italiane had secured a 75.6% stake in Telecom Italia, short of the 90% threshold required for delisting, ahead of the final close of its takeover bid on Friday. Credit Agricole and UniCredit have recently been considering a possible joint move on Banco BPM involving a breakup of the target, two people close to the matter said. Trevi Finanziaria’s board called Webuild’s proposed purchase price unfair, while Advent International completed the acquisition of a 6.54% stake in Avio for €109.6 million.
3. Other market news
Airbus plans to submit an unsolicited proposal to Portugal in late October or early November to supply Eurofighter Typhoon jets as the country seeks to replace its F-16 fleet. The Typhoon is manufactured by Airbus, BAE Systems and Leonardo.
