Leonardo Del Vecchio, patron of Luxottica
Mediobanca, the ECB tows Del Vecchio
There ECB would have given a negative opinion to Delfin from Leonardo Del Vecchio to increase its stake in Mediobanca beyond the current one 19.4% and up – it is said – to 25%. The indiscretion, collected by Mfat the moment there is no official confirmation, even if the reply of Andrea Enria represents an indirect confirmation of what happened: “Can’t comment and even if I knew it I would not confirm it “he said. To then add the real opinion of the European Banking Commission:”There is no rule which only applies to Mediobanca – said Enria – but there are rules that apply to all banks and there are no limits regarding the nature of the investors “.
What does the high ground of the ECB mean?
When Enria argues that there are “rules that apply to everyone” tells the truth: raise more than 20% of the capital of Mediobanca would force the Delfin from Of the Old Man, a company based in Luxembourg, to have precise compliance requirements. And the message that passes by Frankfurttherefore, is that perhaps – at least for now – these requirements are not met at all.
Means that Of the Old Man goes out definitely defeated, after the débâcle in General? Maybe it’s all there storytelling around the Italian financial items to be over-rated to antagonism at any cost. Rather, what is definitively put in the attic is the “parlor” vocation of our economy. So if for decades Mediobanca represented the parlor of finance, with the presence of Piazzetta Cuccia in almost all the most important boards, progressively Alberto Nagel it abandoned the trade union agreements and repositioned the business.
Mediobanca and Generali
For a chance that makes you smile, however, today among other things, the securities loan also expires Piazzetta Cuccia had signed up with Bnp to receive the 4.42% of the voting capital of Generali. Well: Mediobanca could renew this loan or return the shares to the owner. By opting for this second path, he has in fact made it clear what it is the intent for the next few months to come. Not turbulent management, but the need to find lasting peace. The committees controversy it seems archived, but it is natural to think that it takes more time to heal a fracture that is not convenient for anyone. In the meantime, however Affaritaliani.it can rebuild which is not on the agenda there sale of the share of Generalias it had circulated in recent days, by Mediobanca.
The quarterly of Generali
Tomorrow May 19 the Lion will communicate to the market the results of the first three months of 2022. “We expect a stable operating result”, comment the analysts of Akros Bank which confirm the “accumulated” recommendation on the title of Lion of Triestewith a target price from 21 euros. In detail, the operating profit should amount to 1.59 billion euro against quota 1.61 billion of the analog period 2021 he 1.55 of the consensus. According to estimates by Akros, the quarterly net profit should drop to 710 million compared to the 651 million expected by the market. “Profit should drop by11% in the wake of the write-downs that we have calculated and which relate to the exposure Russia And Ukraine“, the experts report.
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