Mediobanca assembly, decides the board in the morning. The shareholder Caltagirone and the doubts about the Opes Banca Generali
The almost certainty that the Mediobanca Assembly did not approve the OPS project on Banca Generali convinced the bank’s management to convene a board of directors to whom the choice will be subjected to postponing the Assize
He loomed as the most participatory assembly in the history of Mediobanca but also the most uncertain and complicated to win for CEO Alberto Nagel. So much risky that Mediobanca has convened for today at 11 a piazzetta Cuccia board to evaluate whether it is appropriate to postpone the assembly scheduled for tomorrowMonday 16, necessary to start the public exchange offer on Banca Generali. The hypothesis of the postponement – as he anticipated Republic – It would take inspiration from an advanced request to Consob on 4 June last by the partner Francesco Gaetano Caltagirone for absolute « incompleteness and indeterminacy of the offer on Banca Generali ». In particular, Caltagirone complained lack of information regarding « the contract between Mediobanca, Banca Generali and Generali, indispensable for the feasibility of the operation ». What shared by Delfin, the other strong partner of Mediobanca with 19.8% who would probably have abstained to the vote.
The vote on the OPS on Banca Generali
The Assizes had to express itself on the OPS launched by the Institute on Banca Generali. And the context he had built was leading to a rejection of the project in the assembly. THEIn the last two months, in fact, many new investors took a position in the capital of Piazzettain principle not in favor of the operation. So, without the consent of Caltagirone and Delfin, the operation would hardly go to the assembly.
It is no case similar to that of the Generali Assembly
In view of the vote, new positions had emerged by turning on a light on the movements On the stock exchange in May. That is, on those purchases of mediabanca titles that triggered the passage of hand between 8 and 10% of the capital. Towards the end of last month – after the detachment of the advance of the coupon that took place on 21 – Unicredit would also be positioned with 1.9%, built after the launch of the OPS and strengthened later. «The bank has about 20 billion capital flows per day and regularly holds positions on behalf of customers. This is not a different case, « said a spokesperson in Piazza Gae Aulenti. According to what is learned, the bank would have recorded the actions to the record dates, which happens when you want to vote. It is no coincidence similar to that of the Generali Assembly of April, it emerges from the bankthat is, when the institute led by Andrea Orcel voted against the Mediobanca list by supporting that of Caltagirone. According to some sources, Unicredit could choose to abstain, which would strengthen the opponents front, including Caltagirone (9.9%). It then emerges that there would be another 2% built with its support for foreign banks close to those who support MPS’s offer on the same Mediobanca which will start in July.
From the Risiko it was called Fuori Inarcassa
Delphin could then refrain (19.8%). President Milleri, while appreciating the Ops, had declared that he was waiting for information on the industrial partnership between Piazzetta Cuccia and Generali, still to be built. He did not raise the veil edition which, with its 2.2%, could move the votes. The speakers are likely to be aligned in Caltagirone, as well as Amundi (1%). Enpam doubled to 2%, Enasarco entered with 2.5%, Forensic Cassa did not move (1%). While he was called out of the Inarcassa who made it known that he did not have Mediobanca actions and that he had sold MPS in March 2024. Taking the sums, including 1.9% of Unicredit, the new names total about 5.5% on 8-10% of the past capital. Nagel can count on a large audience of foreign investors, on the consultation agreement and on neighboring entrepreneurs. The president of Italia Viva, Matteo Renzi intervened on the Risiko: «For me the free market wins. And to the Mediobanca Assembly which wins those who have the most consent. I have the impression that there is a little too much activism by the government, because when he decides to use the Golden Power against Unicredit it is a very serious injury of the rules of the free market « .
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