mps

The board of directors of Mps considers Intesa Sanpaolo’s takeover bid insufficient and counters with the Banco Bpm alternative. In the background, the moves of Crédit Agricole, Delfin, and other key players in the banking takeover game intertwine.

Corriere della Sera identifies the bank led by Alessandro Foti as the most credible option for a future move by Unicredit in Italy. In the background remain Commerzbank, the downsizing of Amundi, and the lawsuit against the German group Linde.

The European Parliament calls on the Commission to overcome the current disparity in treatment between banks and insurance companies in cross-shareholdings. A change that could have effects on the Mps-Generali, Unipol-Bper, and Banco Bpm files.

What Messina of Intesa Sanpaolo said and implied about Mps, Generali, and more

From the refusal of the letter of patronage to the discussion on the future of holdings in Mps, Generali, and Unicredit: why the split within the board (including between chairman Milleri and CEO Bardin) makes the restructuring of the Del Vecchio heirs’ treasury even more complicated.

Davide Leone’s London fund identifies Unicredit and Crédit Agricole as the industrial partners for Banco Bpm’s future. In the background are Intesa’s takeover bid for Mps, the growth of the green bank, and the possible new scenarios for Orcel.

The reduction of the partnership with the French manager is part of the strategy through which Unicredit aims to strengthen asset management and gain autonomy. Meanwhile, the German front remains open, and the Italian risk game is also unfolding in the background.

The Credit Agricole group reportedly came close to the 30% threshold of the Piazza Meda institution by combining direct participation and derivatives. Between Mps, Intesa, Unicredit, and the government, here’s why the French move impacts the balance of Italian credit.

Mps continues to evaluate the Opas from Intesa-Unipol and the proposal from Banco Bpm, but the board confirms steps towards integration with Piazzetta Cuccia. In the background are Generali, UniCredit’s ambitions, and the future of the CEO.

The €10 billion closing risks missing the symbolic June 27 deadline. On the table are guarantees, dividends, quorum, buyback, and even the possibility of liquidating the holding company that holds shares in EssilorLuxottica, Generali, and Mps.

The offer to Delfin, anticipated by Il Sole 24 Ore, brings Assicurazioni Generali back to the center of the dispute among major banks, insurance companies, and shareholders. In the background are the Intesa-Unipol takeover bid on Mps, the Ivass issue, and the battle for control over Italian savings.

The directors representing the French bank voted in favor of the Piazza Meda offer for Siena. Meanwhile, the group can increase its stake up to 29.9% of Bpm and, in the event of a merger, would become the largest shareholder of the new entity. In the background are Generali, Mediobanca, Delfin, and Unicredit.

Unipol’s president, Carlo Cimbri, defends the project built with Intesa and Bper, speaks of protecting the savings of Italians, and expresses confidence that the operation will be viewed favorably by the authorities. And regarding Generali, he is blunt: “We don’t like messy gatherings.”

Brief and cheeky considerations on the sidelines of the latest events involving Mps and Generali

What the CEO of Intesa Sanpaolo, Carlo Messina, said while presenting the takeover bid on Mps. With an eye on Generali…

Unipol’s objective with Intesa Sanpaolo regarding Mps: to merge it with Bper, gain de facto control of the Emilian institution, and create the second largest Italian banking group by branches. Facts, figures, and insights.

All the details of the takeover bid that Intesa Sanpaolo launched on Mps

Banco Bpm and Intesa Sanpaolo in opposition to compete for Mps. All the latest updates.

From the “Padania” risk to the defense of Generali, and then the attack against Banco Bpm: in the interview with Corriere della Sera, Caltagirone shares his vision on the future of Mps and Mediobanca, mixing hopes, barbs, and a bit of pomposity.

Mps: quarterly profits exceed expectations at 521 million, guidance and synergy plan of 700 million confirmed. The CEO holds back on new operations: priority given to integration with Mediobanca and the Generali dossier.

Rocco Basilico challenges Delfin’s green light for the operation that will bring Leonardo Maria Del Vecchio to 37.5% of the family holding. In the background are the control of EssilorLuxottica, Generali, Mps, and Mediobanca, and the 10 billion lent by banks for Leonardino’s takeover bid. Facts, figures, and insights.

Mps, with Palermo’s departure – who remains at Generali and foresees reappointment at Acea – the door opens for Alessandro Caltagirone to join the board of directors of the Sienese bank.

In Mps committees assigned, but the atmosphere remains tense. Between Vivaldi’s dismissal and new appointments, the power dynamics within the Siena bank are being reshaped. In the background, the Mediobanca operation. Facts, names, and clashes.

10 billion agreement with the brothers, 37.5% stake and unchanged governance. Debt drives dividends and strengthens the role of Unicredit, BNP Paribas, and Crédit Agricole, while the holding company remains at the center of the banking reshuffle between MPS, Generali, and Piazza Gae Aulenti.

The French group Credit Agricole is focusing on the Banca del Mezzogiorno (formerly Pop Bari) owned by the Ministry of Economy and Finance, is increasing its stake in Banco BPM, and is subtly participating in the Italian credit market reshuffle. Facts and insights.

Delfin’s CEO, Milleri, supports Leonardo Maria Del Vecchio’s rise to 37.5% and defends the decisions regarding MPS. The holdings remain a lever, while EssilorLuxottica remains the untouchable asset.

Orcel strengthens his grip on Generali while Delfin reorganizes and Mps controls 13% via Mediobanca. In the background, the reshuffle: possible sale of the stake for the alliance with Banco Bpm (denied by Siena) and the return of the Intesa option.

Board divided but secured by the Plt list: Lovaglio as CEO and Managing Director, Bisoni as Chairman, Mazzarella and Corradini as deputies. Facts, names, and scenarios after the Mps board meeting.

The story of renewable energy engineer Pierluigi Tortora who, starting from a minimal stake, overturned the balance of power in Siena. The 1.3 billion group, family governance, and the game that now moves to Mediobanca. Facts, figures, and curiosities.

At Banco BPM, Castagna and Tononi have been confirmed. But behind the scenes, the balance of power is shifting between the government, the third-pole project, and Crédit Agricole’s strategies. Facts, names, and insights.

Behind Delfin of Del Vecchio’s vote that overturns Siena is the strategy on Mediobanca and Generali. With Banco Bpm being decisive and the government caught between adaptation and new cracks. Comments and interpretations on the positions of Delfin, Banco Bpm, and the government.

What happened at the Mps shareholders’ meeting and what are the current scenarios for Mediobanca and Generali following Lovaglio’s reconfirmation in Siena and the defeat of Caltagirone’s slate. Facts, names, and insights.

The strategic game over Mediobanca, Grilli’s role, the divisions between Norges and Vanguard, and the uncertainty of voting shares: what lies behind the (unofficial) stance of the world’s leading asset manager in favor of Lovaglio in Mps.

The first signals from foreign funds – starting with those from the US – which control over half of the capital, the uncertainties surrounding Delfin and Banco Bpm, the influence of proxy advisors, and the challenge between Palermo and Lovaglio: all the numbers and alignments.

Mps: the proxy advisor follows Iss and points the way for the funds ahead of the April 15 meeting. Maione also approved, doubts about transparency and open clash with the Tortora-Lovaglio front

All the news about the present and future of Mps, ahead of the April 15th meeting.

To fire Lovaglio from Mps, a legal opinion from jurist Irrera also emerges. Who, let’s say, has some ties with Caltagirone. The letter from Gianluca Zappa.

The exchange ratio approved by the Boards of Directors paves the way for the merger between Siena and Piazzetta Cuccia. Group structure, strategic shareholdings, the role of the ECB, and impacts on the banking system.

The integration project with Mediobanca, the frictions with Caltagirone, the shadow of the Milan investigation into the alleged collusion among shareholders, and the changed political-financial balances. Facts, insights, and behind-the-scenes of the exclusion of Mps CEO Lovaglio, who joined with the Draghi government in 2022.