BlackRock rises to 5.2% of the capital of Banco Bpm
BlackRock, the global giant of asset managers, acquired a 5.238% stake in Banco Bpm, one of the main Italian banks of the FTSE MIB, according to the Consob communications of 17 May 2024.
With asset management that surpasses the 10,000 billion dollars (of which a third in Europe), BlackRock or also known as the “shadow bank of the world”, is one of the largest asset management companies in the world, and beyond the USA, for many years now it has been establishing partnerships and investing in various European fintechs and neobanks, with a particular focus on Italy, where it has been present for over 20 years. The goal of its CEO, Larry Fink, is toaccess the rapidly growing market of younger, digitally literate retail investors.
In particular, BlackRock has got its hands on the Italian banking system. Currently, the financial giant has stakes worth almost one hundred billion euros in several companies in the country and, through the Macquarie fund, is also participating in the acquisition of the Italian telecommunications network. It is no coincidence that they are already important shareholders Telecom Italia (0.53%).
In the past, in 2009, BlackRock inherited several stakes in Italian companies from the merger with Barclays Global Investors, worth around 8.9 billion euros. In 2014, its stock of investments in Italy had grown to around 58 billion euros.
Specifically, according to Consob data as of 6 June 2014, BlackRock holds significant shareholdings in numerous important Italian companies, including some key components of the FTSE MIB index on Piazza Affari. Between these, Banco Popolare, UniCredit, Allianz, Rai Way, Terna, Banca Popolare di Milano, Azimut Holding and Intesa Sanpaolo.
By order BlackRock conquered the 5% of the capital of Intesa Sanpaolo, the main Italian banking institution, becoming the second most important shareholder after the Compagnia di San Paolo. Last March it then consolidated the position of UniCredit with a share of 6.832%becoming the main shareholder of “Piazza Cordusio” after the cancellation of the last 37.8 million of securities purchased with the first tranche of the 2023 buyback. For the same reason, the participation of Allianz, equal to 4.14%. As of January 29, 2024, BlackRock has held an aggregate interest in the 5.082% in Terna’s capital.
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