UniCredit SpA, Italy’s biggest bank, agreed to advise Ilva SpA, the country’s steelmaker involved in an environmental probe, on a new business plan the government- appointed commissioner is working on.
Tim Participacoes SA, the Brazilian unit of Telecom Italia SpA, jumped to a record as speculation its largest shareholder is closer to selling its stake to competitors sparked a rally in telecommunication companies.
European stocks advanced the most in a week, paring a weekly drop for the benchmark Stoxx Europe 600 Index, as Next Plc led retailers higher and investors awaited a speech by Federal Reserve Chairman Ben S. Bernanke.
Some Telecom Italia SpA directors are attempting to make it more difficult for investor Telefonica SA to sell the company’s Brazilian business, according to two people with direct knowledge of the matter.
The Libyan Investment Authority raised its stake in UniCredit SpA to 2.59 percent from 2.08 percent after buying about 100 million shares, Il Sole 24 Ore reported, without saying where it got the information.
Banca Monte dei Paschi di Siena SpA’s shares fluctuated in Milan trading after its biggest shareholder overruled Chairman Alessandro Profumo to delay a 3 billion-euro ($4.1 billion) stock sale until at least May.