Double green disc of the ECB a Ps. Frankfurt has authorized the merger with Mediobanca, which could be brought to the vote at the assembly on 29 October together with the double takeover bid on Banca Generali and Banco Bpm, and at the same time has The issue of co-optations on the Siena board of directors has been resolved., without two minority councilors since the beginning of May, Fabrizio Palermo e Charles Vivaldi, the first resigned, the second lapsed.
MPS: ECB gives double green light
MPS, according to a statement, "announces that it has received authorization from the European Central Bank for the merger of Mediobanca into Monte dei Paschi di Siena and for other corporate reorganization transactions," along with the green light for the "consequent amendments to the bylaws." The supervisory authority, it is understood, has also successfully completed the "fit and proper" review of the candidate directors. Alexander Caltagirone e Gianluca Brancadoro, first among the non-elected in the minority, who can therefore now enter the board of directors.
MPS: What's Happening in the Next Few Days?
At the beginning of next week MPS is expected to hold a board meeting which will report the fifteen-person boardThe minority had raised complaints about the timing of replacing the outgoing directors, including a letter from four directors to the president urging him to expedite the co-optation process. MPS had stressed against these accusations that the ball was in the supervisory court, to which the documents had been sent in early June. The average time for completing the fit and proper process, according to ECB data, is 97 days.
Around the middle of next week, MPS should submit the offer documents for Banco Bpm and Banca Generali to Consob, after having made requests to the various authorities involved, including the ECB, Bankitalia, Ivass, Antitrust and the Government for the relevant aspects. Golden Power. Operations on which the Siena shareholders will have to express their opinion on October 29th – who at this point should also be called to vote on the merger with Mediobanca – considering that Rocca Salimbeni is subject to passivity rule as a result of the Intesa takeover bid.
Monte's objective, provided that the meeting where the CEO approves the green light, Louis Lovaglio has the task of building consensus around the two operations, and is to start in mid-December with the two offers, when Intesa's takeover bid However, it could be in its final stages, if not already concluded. The filing of the prospectus should arrive close to the Ca' de Sass shareholders' meeting, which on Thursday will approve the capital increase to service its offering, which the shareholder foundations and proxy advisors have supported.
MPS, what Orsini (Confindustria) said
And speaking on the sidelines of the National Unity Festival in Reggio Emilia, regarding the events concerning MPS, the president of Confindustria, Emanuele Orsini, he said: “I'm not entering the market, because obviously the market will decide. What matters to me is that Italians' savings remain in Italy's investmentsI'm worried if they go to other countries. I believe that groups that protect territoriality and the ability to support Italian businesses and citizens should be protected."
