The following factors could affect Italian markets on Friday.
Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).
POLITICS
Former Italian Prime Minister Silvio Berlusconi was involved in a tax fraud scheme while he was head of government, a Milan court said in a document released on Thursday explaining its earlier decision to uphold his four-year conviction.
Cabinet meeting at 0800 GMT.
ECONOMIC DATA
National statistics institute ISTAT delivers May consumer confidence (0800 GMT) and April wage inflation (0900 GMT).
DEBT
Italy will offer up to 2.5 billion euros ($3.2 billion) in zero-coupon bonds (CTZs) and up to 1 billion euros of bonds linked to euro zone inflation (BTPEIs) at its regular end-month auction on May 28, the Treasury said Thursday.
TELECOM ITALIA
Telecom Italia has pushed to the end of the month a decision on whether to spin off its fixed-line access network, which is proving more complex than expected due to political and regulatory considerations.
Spain's Telefonica, a shareholder via the Telco vehicle that controls 22.4 percent of Telecom Italia, voted against the spinoff project, La Repubblica said.
FIAT
Italian Industry Minister Flavio Zanonato said he asked automaker Fiat to stay in Italy after its planned merger with Chrysler, which has led labour unions to fear it plans to move its headquarters to the United States.
UAW leader Bob King said the possible merger of Fiat and Chrysler and where it will be headquartered in the future are secondary matters, he was quoted as saying in an interview with La Stampa. The key issue, King said, is that both companies become stronger.
ENI
Sanctions against Iranian oil, Iraqi flow outages and a change in Russian export routes have left Europe's recession-hit Mediterranean refiners short of their preferred oil grades at a time when the rest of the world has plentiful supply. * CEO Paolo Scaroni said in an interview with Belgium's De Tijd the group had already taken over supplier Nuon Belgium: "We could later make smilar acquisitions," he said.
PIRELLI, CAMFIN
Pirelli head Marco Tronchetti Provera stepped down on Thursday as chairman of GPI, the holding company that controls Camfin which in turn controls Pirelli, because of an ongoing legal dispute with the Malacalza family, a key investor in the ownership chain.
ENEL
Italy's biggest utility Enel will issue a first planned hybrid bond by the end of the summer, Chief Executive Fulvio Conti said on Thursday.
* Argentina has recognized that power companies had amassed extra costs from tariffs being blocked, MF said, citing a document sent to the US SEC by Enel's Latin America unit Enersis. Enersis' head estimates the benefits could be $398 million on core earnings. But the paper added it remained to be seen how and when the reimbursements would arrive.
GENERALI
JP Morgan raised its rating on the insurer to Overweight from Neutral and its target price to 17.4 euros from 14 euros.
* ASTALDI
The company could make an acquisition that would lead it to working on the reconstruction of the city of Aquila which was badly damaged by an earthquake.
PRADA
Italian fashion house Prada is not planning on returning to the acquisition trail for now, its chief executive said on Thursday, dousing speculation it might be in the hunt for deals.
For more details on today's events please see the full agenda in Italian.
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