Unicredit, words and thoughts of Orcel on Commerzbank, Mps, and Generali
From record accounts to relations with Berlin, up to the Mps and Generali dossiers: here’s how Unicredit’s CEO, Orcel, is reshaping the group’s strategy between European consolidation and caution on the domestic front.
How are Unicredit’s accounts doing and what is being said on the Stock Exchange?
Best semester and quarter ever, strengthened guidance, and Unlimited plan extended until 2030. Yet the stock falls on the Milan Stock Exchange, while investors focus on the Commerzbank dossier and the banking risk. Facts, figures, and insights.
What will Unicredit do for SMEs and the South with Cdp loans?
Numbers and objectives of bond loans subscribed by Cdp for Unicredit
I explain the UniCredit-Linde case between Germany, Russia, and London.
The legal geographies of the UniCredit-Linde case in Germany. An analysis by Luca Picotti, lawyer and author of “Invisible Lines,” taken from his LinkedIn profile.
UniCredit, Isybank, Mps, Poste, Nexi and more: all the Italian companies selected by the ECB for the digital euro test
The ECB has selected thirty-six companies to participate in the digital euro pilot project. Eight of these are Italian, such as UniCredit and Satispay, but there are also Deutsche Bank, Revolut, and SumUp.
Unicredit, why Fineco is back on Orcel’s radar
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.
Intesa Sanpaolo, Messina dampens Lovaglio’s enthusiasm for Generali and crushes the ambitions of Credit Agricole and Unicredit in the takeover battle.
What Messina of Intesa Sanpaolo said and implied about Mps, Generali, and more
Caos Delfin, even Milleri and Bardin are at odds.
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.
Leone does not tear apart Credit Agricole in Banco Bpm
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.
Unicredit: why Orcel cuts Amundi, while eyeing the Italian takeover battle and focusing on Commerzbank
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.
Why Crédit Agricole Is Increasing Its Stake in Bpm Again (and What Changes in the Banking Merger Game)
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.
The struggles of young Leonardo Del Vecchio between Lmdv, Delfin, banks, and more
New leadership at the Lmdv family office, Talarico focused on the holding company dossier and increasingly cautious banks. In the background, the buyback, Clemente Del Vecchio’s move, and major maneuvers on financial assets.
Mps, Lovaglio stalls but does not give up on Mediobanca
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 struggles of young Leonardo Maria Del Vecchio. Here’s why the restructuring of Delfin is at a standstill.
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.
Assicurazioni Generali, why Unicredit’s move shakes up the Italian corporate game
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.
In Germany, there are those who do not understand the Nein to Unicredit regarding Commerzbank.
Not everyone in Germany shares the criticisms and obstacles towards Unicredit, which is aiming to take control of the German institution Commerzbank.
Why Germany freaks out and blocks Unicredit on Commerzbank
The German government says no to Unicredit; the state rejects Unicredit’s offer for Commerzbank. The reconstruction of the story as told by Handelsblatt.
Commerzbank and more, but how weak is the German banking system?
Nzz, one of the most authoritative newspapers in Europe, published an editorial on the Unicredit-Commerzbank affair that was highly critical of the obstructionism of the German government, highlighting that the weakness of Germany’s banking system is the result of a structural characteristic.
Cimbri boasts: reassures government and market on the Italian Intesa-Unipol-Mps axis
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.”
Oops Unicredit on Commerzbank, here’s who joined. Orlopp calls Bafin
From Nomura to Verto Capital, here are the entities that contributed shares to the Piazza Gae Aulenti offer. The CEO of Commerzbank requests clarifications from the German regulator and responds: dialogue is possible, but not under the current conditions.
All the latest clashes between Unicredit and Germany over Commerzbank
Surge in subscriptions to Unicredit’s OPS. The bank reaches 34.4% of the German institution’s capital and 37.6% including convertible instruments; considering derivatives as well, the exposure exceeds 50%. But Frankfurt disputes the figures and defends Commerzbank’s autonomy.
Commerzbank stands firm against Unicredit. But Orlopp leaves a door open.
Shareholders and employees of Commerzbank rally around the leadership of the German bank against Orcel’s takeover bid. Weidmann raises concerns about BTP and Russia risks, while Piazza Gae Aulenti rises to around 42% of the capital.
Is Leonardo Del Vecchio Jr. already broke?
Leonardino is putting two properties up for sale in Milan, negotiating with banks for the large loan for Delfin, and considering expanding the pool of institutions, while the appeal of his half-brother Rocco Basilico remains pending. Facts, names, numbers, and insights.
Why Commerzbank rejects Unicredit
Bettina Orlopp and Jens Weidmann urge shareholders to reject the Piazza Gae Aulenti offer: the focus is on the deemed insufficient premium, employment risks, the Russia issue, and Andrea Orcel’s strategy. Berlin remains defiant as Unicredit’s stake rises to 38.87%.
Delfin, all the reasons behind the conflicts among the Del Vecchio family
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.
Commerzbank goes on a diet and clashes politically with Unicredit.
Accounts, plans, and schemes of the German bank Commerzbank to thwart Unicredit’s maneuver. What is being said in Germany.
Commerzbank, Merz considers a statist castling move against Unicredit
The Merz government is considering a more decisive return of the State into the capital of Commerzbank to block an acquisition by Unicredit deemed undesirable.
What is being murmured in Germany about Unicredit’s latest moves regarding Commerzbank
From the German front, a significant editorial in Handelsblatt on Unicredit’s latest moves regarding Commerzbank.
Delfin, why do the French BNP Paribas and Crédit Agricole pamper Del Vecchio Jr.?
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.
Unicredit’s plans for Commerzbank explained by Orcel to the Germans
Unicredit is preparing the final push on Commerzbank. On Monday, May 4, the shareholder issue for the capital increase will be addressed, then the formal offer will be launched to (possibly) close the deal. What Orcel told the Frankfurter Allgemeine Zeitung.
Essilux and Delfin: Milleri’s take on Del Vecchio Jr and the financial game of risk
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.
Hooray hooray Leonardo Maria Del Vecchio in Delfin. Or not?
Delfin and beyond: Leonardo Maria Del Vecchio’s latest moves
What will happen at Generali?
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.
Mps, Lovaglio cuts Caltagirone and Passera. Now the Generali issue.
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.
Merz and the Germans lose it against Unicredit over Commerzbank. FT report
Merz attacks UniCredit’s “hostile” tactics in the takeover bid for Commerzbank. The Financial Times article taken from Liturri’s review.
Unicredit, here is Orcel’s carrot and stick approach to the German Commerzbank
In the call with analysts, Unicredit CEO Orcel describes the German bank as “underperforming” and “unprepared,” but reiterates support for the merger: “It is what Europe needs.” Two scenarios on the table.
What is being said at Commerzbank about Unicredit’s move?
The public takeover bid announced by Unicredit has sparked new tensions in the German banking system and triggered a strong internal reaction at Commerzbank. All the details.
Germany’s (not very European) barricades against Unicredit on Commerzbank
What is being said and written in Germany about the takeover bid launched by Unicredit on Commerzbank.
This is how Unicredit wants to gobble up Commerzbank.
Unicredit challenges Berlin: the takeover bid for Commerzbank is worth 35 billion and aims for 30%. Germany reiterates its ‘no’ to a hostile acquisition while Brussels looks favorably on the consolidation of the banking sector. Facts, figures, and insights.
