Banks, the great game of the Ops puts 144 billion euros in Piazza Affari on the move

Since yesterday, the predatory banks that those remained on the market has been reached. In fact, for almost a year now, the Italian bank Risiko has been experiencing a season and saying « lively » has been an understatement.

With the last Move by Mediobanca on Banca Generali – skillfully chosen to propose an industrial operation to the shareholders to escape the embrace of Monte dei Paschi – The bulletor of the value of the Opas has still gone up, taking 40.14 billion. The sum of the offers promoted by Italian banks on other institutions amounts to much. Until now. A figure that we could compare to the Plan for the rearmament of Ukraine conceived by the high representative EU Kaja Kallas. And that comes starting from the first move on the chessboard, or the shopping of Banca del Fucino on Cassa di Orvieto in spring 2024 for 90.4 million up to the 6.3 billion mediabanca offer for Banca Generali.

The list of offers

And counting in the midst of Banca Generali on Intermonte (98 million) and then away enumeroper Banco Bpm on Soul (1.5 billion for 66.976% of the SGR, excluding the shares already in the belly to the other shareholders); Unicredit on Banco Bpm (13.7 billion plus 500 million buybacks); Banca Ifis on Illimity (303 million); MPS on Mediobanca (13.3 billion); Bper on Pop Sondrio (4.3 billion). If you want, there would be the merger by incorporation of Banca Popolare di Ragusa on Popolare Sant’Angelo, but not being listed would not return to the calculation; For the record, however together they make 6.2 billion of assets.

So on the stock exchange

If you look at the stock exchange values, yesterday the protagonists of the Risiko capitalized together the beauty of 144 billion euros. From Unicredit (80 billion) to Mediobanca (14.5 billion), from MPS (9.2 billion) and Bper (10.1 billion) and wanting you to add the market cap of the « most beautiful of the realm » or the generals (49.5 billion) that many hearts and wallets inflamed, we would reach almost 200 billion (193.4 for precision). Obviously on the operations in the making, the response of the market still hangs so it is possible that in the end not all the figures will end up on the table. The Italian panorama will surely change by the end of the year. But it is also highly likely to be upset. Also because there are some silent names that could enter the field and play a role even as protagonists, such as Intesa Sanpaolo.

And it is not said that to redesign the scenario will necessarily be those with more capital. As the Grand Mogul of the media Rupert Murdoch said, one who means of mergers, « the world is changing very quickly. The Great will no longer beat the little ones. It will be the fast to beat the slow ».