European Press Roundup: Italian State-Backed Lender May Double TIM Stake, Ryanair Expects More Flight Delays This Summer

In Europe today, stocks are moved into the green by telecom and trade-sensitive industrial stocks, and the Spanish Prime Minister calls snap elections after losing a budget vote. The top business story: Shares in Scout24 soar after the company says that it supports a takeover offer from BidCo. Read about the above topics on Dow Jones Newswires or WSJ.com.

In Other Media...

Italy's state-controlled lender Cassa Depositi e Prestiti, or CDP, may raise its stake in Telecom Italia to 10% from the current 4.9%. -La Repubblica

Ryanair expects flight delays to increase this summer due to traffic-control strikes and staff shortages. Last year saw record disruptions for the industry with a 53% rise in delays and 5,000 flights canceled in Europe, according to data from business group A4E, or Airline for Europe. -The Guardian

French oil major Total plans to move its trading operations to Geneva from London in September, affecting 200 jobs or 10% of its U.K. staff. The company says the move isn't related to Brexit, although it comes as a number of multinationals relocate operations out of the U.K. ahead of the country's exit from the EU. -Sky News

Osram is set to appoint Dieter May, BMW's senior vice president for digital products and services, as the head of its chip-making subsidiary OS Semiconductors. The company has been searching for someone to take on this "difficult position" for nearly a year following the departure of OS' ex-CEO Aldo Kamper for auto supplier Leoni. -Handelsblatt

The U.K. Gambling Commission is considering forcing gambling companies to fund so-called self-exclusion tools, including software that allows customers to block betting websites. This is part of the regulator's efforts to tighten gambling rules to better protect vulnerable customers. -The Guardian

Ulster Bank swung to a 15 million euro ($16.9 million) profit in 2018 in the Republic of Ireland, with the previous year's performance having been hit by large provisions for the tracker-mortgage scandal and problem loans that were being prepared for sale. -The Irish Times

Uber says its Uber Eats delivery platform will pull out of the Austrian market as of March 8. Uber says the online food-delivery service didn't take off as strongly or quickly in Vienna compared with other European cities, citing especially tough competition in the city against rivals Lieferservice and Foodora. -Der Standard

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(END) Dow Jones Newswires

February 15, 2019 08:12 ET (13:12 GMT)

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