The €30,6 billion offer for MPS, launched just under a month ago by Intesa together with Bper, could only be stopped by a substantial relaunch on the market
According to Assoreti data, Fideuram's net inflows since the beginning of the year amounted to €7,621 billion. Corcos: "Results confirm our leadership."
Intesa Sanpaolo has filed with Consob the document relating to the voluntary public tender offer for all the shares of Banca Monte dei Paschi di Siena. Completion is expected in December.
The board of directors unanimously approved the reorganization designed by Lovaglio. A new board meeting will take place on July 16th. "It is the board's duty to examine all options," the CEO said, referring to Intesa and Banco BPM.
Minister Giorgetti says the government will be vigilant on the new rounds of banking risk, but then hints at possible limitations on Intesa Sanpaolo's takeover bid for MPS. So: is the government a referee or still a player?
Crédit Agricole is Banco BPM's largest shareholder with a 22,9% stake and has already received the ECB's approval to increase its stake to 30%. The bank's management is reportedly evaluating all options to respond to the wave of...
It starts on Tuesday, June 16th, with the Bank's board meeting and the end of the acceptance period for Unicredit's offer, and concludes at the end of the year. Here are the next steps in the game of risk to mark in red on your calendar.
The events surrounding Banco BPM and Monte dei Paschi confirm that whenever politicians try to interfere in the banking system, they only cause trouble and make a bad impression. Let's hope they've understood this and that regarding the Intesa Sanpaolo takeover bid...
The banking game is partially electrifying Piazza Affari, which, after hitting a record high of 51.000 points, is now barely holding onto 50.000. The Nasdaq is in deep red after a strong start for AI-related stocks. Bitcoin is on the…
Three Spanish, two Italian, one British, one Swiss, one French, one Dutch, and one Finnish. This is the geography of the top European banks by market capitalization. None has reached the heights of the American giants.
Intesa Sanpaolo's €30 billion takeover bid for MPS has three very clear objectives, but one is especially in the national interest: the defense and stability of Generali. Will Messina and Orcel be allies or rivals in terms of capital?
Two drivers of today's stock markets: the Intesa Sanpaolo takeover bid, which is reviving the banking game in Italy, and the strong recovery in high-tech stocks most closely tied to AI, which is reviving the Nasdaq. Oil is below $100,…
The president of Unipol described Banco BPM as "a desperate lover," slamming Lovaglio on one side and Pope on the other. Regarding Intesa at Generali: "It will be a guarantee for Italians' savings."
The MPS-Mediobanca deal will create "a €2 trillion Italian wealth management bank," Messina emphasized in a call with analysts, expressing confidence in the possibility of surpassing Siena's two-thirds stake: "Excellent relations with Delfin and Caltagirone." And...
Europe seesaws between geopolitical tensions and a tech sell-off, while the banking game ignites the market in Milan. Stellantis is under pressure, oil prices soar, and the spread rises. Follow the LIVE broadcast.
The banking game reignites: Intesa launches a €30,6 billion takeover bid for MPS, signs an agreement with Unipol for the Montepaschi brand and 635 branches, and sets its sights on Mediobanca. The Board of Directors also approves the purchase of a 3,01% stake in Generali. The new group…
A surprise move by Banco BPM, which proposes a merger with MPS at equal terms, aims to forestall a countermove on Siena by Intesa and BPER, which would also impact Mediobanca and Generali, and would completely change the game in Italian finance.
Talks between the two banks are reportedly accelerating, and the game of risk could resume as early as this summer. The merger would create a banking hub with €450 billion in assets.
Speaking at the Uilca congress in Venice, Luigi Lovaglio expressed confidence that the merger with MPS will be a successful one. "We're accelerating this project."
There are 22 blue chips paying dividends. MPS leads the way on the FTSE MIB, but keep an eye on Intesa Sanpaolo, Banca Ifis, and Nexi, not to mention Generali and Eni.
MPS, Generali, Banco BPM, Lovaglio: here are the key passages from Francesco Gaetano Caltagirone's long interview with the "Corriere della Sera", in which he discusses the latest financial events in which he has been one of the protagonists.
Last year, the first quarter of Italy's top five banks closed with €6,8 billion in profits. Unicredit and Intesa, combined, accounted for 80% of the profits.
Profitability is growing, commissions are rising. Generali is contributing €131 million. A dividend of €0,86 per share will be paid on May 18th. Lovaglio on the possible sale of the Lion: "I haven't considered a plausible scenario."
Net profit of €322,7 million, revenue up 5% compared to the previous quarter. Costs significantly reduced. CEO Melzi d'Eril: "Results demonstrate discipline."
The climate at MPS remains tense: following the clash over the presidency and the dismissal of director Carlo Vivaldi, Acea CEO Fabrizio Palermo is leaving the board of directors and the related parties committee.
Monte dei Paschi's Board of Directors is still untangling some governance issues. The next board meeting is scheduled for Thursday, May 7th, for the quarterly report.
EssilorLuxottica's Paris meeting confirms part of its board of directors. CEO and chairman of Delfin, Francesco Milleri, said: "We will return to our core values on the stock market."
The banking game is back in full swing in Italy, and amid speculation about the fate of the Lion's stake held by MPS-Mediobanca, Unicredit's moves, and Delfin's reorganization, all eyes are on Generali, the Italian safe haven that…
After the triumph at the shareholders' meeting, the Plc list also took the two vice-presidential positions, which went to Mazzarella and Corradini. Ft: Monte dei Paschi wants to sell Generali to finance the purchase of Banco BPM. But the bank denies this.
The bank led by Andrea Orcel becomes the third-largest shareholder, behind MPS and Delfin. The shareholders' meeting approved a €500 million buyback and reappointed the board of statutory auditors. 69,69% of the share capital was present.
Generali's shareholders' meeting opens amid heightened tension among shareholders and amidst the Italian banking crisis. At the center of the meeting are the Delfin-Caltagirone rift and the implications for the MPS-Mediobanca deal, potentially impacting the financial situation in the country.
MPS's first board meeting under the new management is expected on Thursday following Lovaglio's re-election. The board is expected to finalize its new governance structure. Generali: Bancassurance with MPS? Open to exploring collaborations to achieve objectives.
The US seizure of an Iranian merchant ship and the promise of retaliation from Tehran's military high command have thrown the ceasefire into doubt. Oil prices rebound but remain below 100, the…
Uncertainty surrounding the US-Iran negotiations is also reflected in the fluctuating performance of the stock markets. Piazza Affari holds the 48 mark: the impact of the Siena reversal on the stock market. Oil prices are rising: Brent crude returns to $100 a barrel.
Piazza Affari remains above 48 points, driven by banks: Banco Bpm is grappling with the renewal of its board of directors, while Crédit Agricole strengthens its weight in the capital • MARKETS Is peace in the Middle East really close? by Gabriella…
Yesterday, the S&P 500 and Nasdaq dusted off record highs, while the quantum computing sector saw a meteoric rise. Asia rose sharply, driven by technology stocks, while China showed GDP growth exceeding expectations. Expectations are high for…
The defeat of the Caltagirone list and the victory of the Lovaglio list at the MPS assembly confirm that, fortunately, the market matters and is also a lesson for the Meloni government, which in the Capital Bill favored…
Piazza Affari defends its 48.000-point mark with Nexi, Avio, and especially the performance of Mediobanca and MPS on the day of the dramatic shareholders' meeting. On Wall Street, Bank of America and Morgan Stanley performed above expectations.
With its 17,5% stake, the Del Vecchio family's holding company surprisingly upset the balance of MPS's shareholdings by voting in favor of the Tortora list, which includes former CEO Lovaglio, a candidate for whom Banco BPM also voted.
In Siena, the MPS shareholders' meeting renewed the board of directors: three lists in the running and great uncertainty. Turnout was 64,11%, below pre-meeting expectations, while the MPS Foundation did not vote on governance. The 2025 budget and dividend were approved. • BANKS Shareholders' Meetings, week…
Stellantis soars on the Milan Stock Exchange after sales estimates, and MPS surges on the day of its board meeting. Recordati also rises - Follow the LIVE coverage.
Investors are fretting over the possibility of being left out of the recovery in the event of peace. Wall Street closed near its highs yesterday. In Asia, the South Korean Kospi led the gains with a 3% gain. European stocks are higher…
Mediobanca's shareholders approved the six-month financial statements and the €0,63 dividend. However, they postponed the appointment of a director to replace Federica Minozzi, pending the appointment of the board of directors of MPS, which holds an 86,3% stake.
A surprise move by the board of directors of Banco BPM, which has decided not to take sides in the battle for the renewal of the governance of Monte dei Paschi di Siena. The final decision rests with CEO Castagna and the...
Palermo and Lovaglio are neck and neck for the CEO position: Delfin will be the deciding factor. Troubled waters are also present at Banco BPM, where the French Crédit Agricole, who dislike Chairman Tononi, will make their presence felt on the occasion...
At the MPS meeting on April 15th called to elect the institute's new board of directors, Norges Bank Investment Management, manager of the Norwegian sovereign fund, will vote in favor of the PLT Holding list, that is, the one that is re-nominating the former CEO Lovaglio.
The Leonardo case reveals that politics demands loyalty from managers, regardless of their performance in the field and their market appreciation. It's a flaw in public companies, but even in private ones, things aren't always rosy.
The California pension fund Calpers, the Teacher Retirement System of Texas, and the New York City Comptroller, the pension fund manager, will support the board's slate and its CEO candidate, Fabrizio Palermo. Caltagirone's stake rises to 13,5% of the...
The countdown is on for MPS: on April 15th, the shareholders' meeting will be called to elect a new board of directors. Investors are also keeping an eye on the lists competing for the bank's new governance. They're also keeping an eye on...
Following the ISS report, proxy advisor Glass Lewis has also issued a report ahead of the MPS shareholders' meeting on April 15: Palermo has been approved as CEO and Maione as president. Reinstating Lovaglio "could introduce further uncertainty regarding the continuity and implementation of governance."
The deadline to deposit shares and visa rights for the April 15th meeting expires today. Following the ISS recommendations, the market is eagerly awaiting Glass Lewis.
The dismissal of CEO Luigi Lovaglio, who, however, remains unwavering, opens up unprecedented prospects for Monte dei Paschi's future. All eyes will be on the April 15th meeting.
The ISS proxy advisor recommends voting in favor of the board of directors' list at the meeting for the renewal of the board of directors of Monte dei Paschi di Siena, but criticizes Lovaglio's succession process and suggests voting against…
The G7 is supporting sentiment, ready to guarantee stability and oil and gas supplies. Powell pushes back further Fed rate hikes - Follow the LIVE broadcast.
The showdown at MPS is approaching and tensions are rising: between the board's complaint and the letter to the directors from Tortora, owner of PLT, we take stock of what is happening in Siena.
There's a complete rift between the now-former CEO of MPS and the ownership: the board of directors has also revoked his powers as general manager. On April 15, the shareholders' meeting will elect a new board, with Maione as chairman and Palermo as CEO.
Acea's current CEO has been chosen to lead the bank in its new direction, following approval by the April 15th shareholders' meeting. The outgoing CEO's position will be discussed at a third consecutive board meeting convened on Wednesday, March 25th.
Luigi Lovaglio's decision to run on the alternative list for the renewal of the Siena bank's board has not been appreciated by the top management: the meeting will be adjourned until Tuesday, with Deputy General Manager Bai in pole position to replace the CEO.
Following Lovaglio's exclusion from the board of directors, Pit Holding, owned by the Tortora family, has submitted a list of 12 names seeking a majority on the Siena board. "An open proposal addressed to all shareholders." The funds have filed their lists for…
“There is a governance process underway and I cannot comment,” Lovaglio replied to those who asked him about the changes at the top of MPS.
Generali's board of directors approved a dividend of €1,64 per share, exceeding estimates, for a total payout of up to €2,5 billion. Adjusted net profit increased by 14,5%. The CEO also expressed his readiness…
US inflation in line with expectations. Gold moves little, spread widens - Follow LIVE • MARKETS The IEA plans record oil inventory release by Gabriella Buschi
MPS and Mediobanca have approved the merger of Piazzetta Cuccia into the Siena-based bank and set the exchange ratio at 2,45 MPS shares for every Mediobanca share, a premium over the 2,2x ratio expected on…
The Mediobanca board of directors has called a shareholders' meeting for April 14, a closed-door meeting: shareholders will be able to participate only through their designated representative.
The stock market is hitting MPS hard, which lost 4% yesterday and 18% in a week. It certainly doesn't appreciate Lovaglio's ouster, but his dismissal isn't a surprise: woe betide anyone who doesn't go along with the...
Europe and Milan closed in the red. Focus on the US-Iran conflict and the potential impact on energy prices.
The board of directors has presented its list of candidates for the next board meeting. Acea's current CEO (whose term expires in the spring) is the favorite, while Corrado Passera is also in the running. The April 15 meeting will decide.
Piazza Affari rose 1,98% after yesterday's plunge, despite the collapse of MPS and Mediobanca following the change in management. The spread returned below 70 basis points. Bitcoin returned to $72.000.
The current CEO of MPS was excluded from the nomination committee's list. Caltagirone's position was crucial. The board of directors is called to decide today.
The news of indirect contacts between Iranian and US intelligence regarding the end of the conflict has given impetus - Follow the LIVE broadcast
Meloni told Bloomberg: "The government's role in MPS is over." The stock plunged more than 6% on the stock market, dragging Mediobanca (-6,24%) down as well. Follow the LIVE broadcast.
Between Delfin, the Del Vecchio family's holding company, and the Caltagirone group, there was "a shared intention"—hidden from the market—to take control of Generali "since 2019." Here's the reconstruction, according to the Milan Prosecutor's Office, of the takeover of Piazzetta...
MPS has approved its 2026-2030 business plan, which, thanks to its merger with Mediobanca, makes it the "third largest Italian banking player" with over 7 million customers. The merger exchange rate is due by March 10. The stock price slides...
Born in Florence, he was also president of the Italian Banking Association (ABI) from 1987 to 1991. Patuelli's memory: "A friend and an example of moral rigor."
Monte dei Paschi di Siena: A lengthy meeting will focus on the ongoing work of drafting an initial list of candidates for the board of directors, which will then be narrowed down by March 5th.
The new hub will have two distinct but integrated souls. This will also impact Generali. MPS's plan, which will be presented on February 27, is eagerly awaited.
Yesterday, the board of directors of Rocca Salimbeni, chaired by Nicola Maione, announced the decision. The plan calls for the corporate and investment banking and private banking activities serving high-end clients to be transferred to a non-shared entity...
European stock markets are showing positive signs, with Milan leading the way, buoyed by Mediobanca's rally following the green light for its merger plan with MPS and delisting - Follow the LIVE CHANNEL • MARKETS Lagarde will leave the ECB before the end of…
According to an analysis by the Fiba Foundation of First Cisl on data from Intesa Sanpaolo, Unicredit, Banco Bpm, Mps and Bper, in 2025 the drop in interest margin was offset by an increase in commissions
European stock markets closed mixed, with Paris holding its ground, buoyed by Kering's results. Milan fell below par despite Ferrari's rally (+10,19%) - Follow the LIVE coverage.
In the new plan, Mediobanca will be a separate legal entity focused on corporate and investment banking and private banking. The goal is full integration by the end of 2026. Revenues are stable, net interest income is down. The stock price is down.
Stefano Di Stefano, a director of the Ministry of Economy and Finance and a member of the board of directors of MPS, is under investigation for insider trading for the purchase of shares worth approximately 100 thousand euros during the takeover bid for Piazzetta Cuccia, with a profit of several thousand euros.
The extraordinary shareholders' meeting of MPS approved the board of directors' list as a way to renew the bank's governing body. Now it's time for the plan, and the market is betting on Mediobanca's departure from the stock exchange. Caltagirone is strengthening and...
Piazza Affari widens to its highs, with the FTSE MIB nearing 47 points. Gold falls below $5.000. Wall Street continues to be mixed, weighed down by the AMD collapse. Follow the LIVE broadcast.
US-Iran tensions are pushing gold and silver to record highs, while oil prices are also rising. Oil stocks are benefiting in Milan, with Mediobanca also showing signs of buying. Follow the LIVE feed.
MPS: A compromise solution will allow CEO Lovaglio to participate in the board's decisions regarding the list—on which he will be entitled to vote like "all directors"—but will, conversely, exclude him from the selection process.
MPS, all eyes are on today's board meeting: the sticking point remains the exclusion of the directors under investigation from the list formation process, the Lovaglio case, and the future of Mediobanca.
The situation at the top of the Siena-based bank remains tangled, and the board of directors has taken further time to decide on the rules for the board's list. The issue is clear: CEO Lovaglio, supported by Minister Giorgetti but coldly...
The new wave of uncertainty is pushing investors toward safe haven assets: gold above $4.700, silver above $95. Oil falls, the euro strengthens. Wall Street starts off heavily - Follow LIVE • MARKETS: Sell-off on stocks…
Silver, palladium, and platinum all fell more than 5%, with gold and copper falling significantly, while oil prices rose. Stock markets were divided. In Milan, the row over CEO Lovaglio's future caused MPS and...
Global markets are moving cautiously, led by tech stocks on Thursday and after tensions between the United States and Iran appear to have eased somewhat. The new US-Taiwan AI agreement is infuriating China. Amazon is rampaging on copper. At the Piazza...
The prospect of a UniCredit takeover of MPS is intriguing the financial community and could ignite the banking game well into 2026, but Orcel will once again have to contend with the government, which is not only a shareholder in the bank...
The European index nears 600 points, led by defense and banking stocks. The latter are benefiting from new Golden Power rules that could encourage M&A activity in the European Union. In London, the blue-chip FTSE 100 index reached…
Many European stock markets will be closed tomorrow, December 31st, with the exception of London and Paris, which will hold shortened trading sessions ahead of the New Year holidays. At Piazza Affari, banks led by the trio of MPS, Mediobanca, and Unicredit will be active.
Anyone who thought a change in Generali's leadership was imminent following MPS's acquisition of Mediobanca, which holds 13% of the company, should think again. One of the consequences of the Milan prosecutor's investigation into the Piazzetta Cuccia takeover…
In Milan, Monte dei Paschi's defense stocks rebounded strongly, with Fincantieri and Leonardo leading the way. On Wall Street, Paramount's counter-offer boosted Warner Bros. shares in particular.
According to a Consob document dated September 2025, "there is no hidden agreement" between the shareholders, as alleged by the Milan Prosecutor's Office, which has placed Caltagirone, Milleri, and Lovaglio under investigation for stock market manipulation and obstruction of supervision. The investigation…
The MPS board of directors unanimously renewed its full confidence in CEO Lovaglio, confirming the integrity of the banker, under investigation by the Milan prosecutor's office for the Mediobanca takeover. The market expected clarifications regarding the stability of governance following the…
The Filosa effect sends Stellantis stocks soaring for a second day. After yesterday's rebound, MPS is back on a sharp decline. The spread remains at 70, a level not seen since 2009. Silver slides.
The goal is to gather as much information as possible about the weeks leading up to MPS's bid for Mediobanca. Tomorrow, the Siena-based bank's board of directors will hear Lovaglio's report.
