The takeover bid of Intesa Sanpaolo in tandem with Unipol su Ps It is "a structured, important and intelligent operation" while Monte dei Paschi's countermove "is defensive, less structured, we will see the market" but, in any case, "only one has the possibility of succeeding". Talking about the ongoing risk game, during a break in the work of the Cernobbio Forum, is the Undersecretary of Economy, Federico Freni. “It seems to me that at least one of the two operations – he highlights – is structured to resolve the antitrust issues on the concentrations in advance, because the fact that Unipol can participate in the second phase of the operation together, through Bper By creating another entity, it preemptively resolves a concentration issue that would need to be resolved, because obviously Intesa would not be able to have all the branches."
MPS, Freni: "The Ministry of Economy and Finance's exit? We won't influence the game of risk."
Brakes then does not resolve the issue of the share, 4,8%, that the Treasury has of Monte"We will decommission it," the undersecretary states, "when it is most convenient for the Ministry of Economy and Finance and, therefore, most convenient for citizens, because the shares are decommissioned when they are at their maximum possible load."
While on the participation in the next assembly of Rocca Salimbeni, a decision will be made "later, however the Mef share is not there to influence the operation "Or to decide which operation goes through," Freni specifies. "The MEF's stake in MPS is a stake we divested within the limits required by the EU Commission. We have never influenced the bank's performance," Freni adds. "Proof of this is the fact that we did not participate in the last meeting and will continue to do so." Meanwhile, next Thursday, Intesa Sanpaolo will convene a meeting to approve the capital increase to service the takeover bid for Siena.
