MPS, stage sales and foundations. The Mef’s moves for the lock up
The governmentas agreed with the EU, must proceed by the end of 2024 definitive disengagement in MPS. The Treasury still remains the largest shareholder and holds 26.7% of the shares. One of the hypotheses being studied now is the staged sales, with a gradual lightening. This is why the trail of foundations – according to what appears to Il Sole 24 Ore – an exit operation in several phases is being studied which would include not only the sale through a flash placementas so far experienced by the public shareholder, but also a direct transfer to third parties. And given the current market scenario, it cannot be ruled out that they are the same foundations as current shareholders Siena – or at least some of them – the potential recipients of a part of the rich share package headed by the Mef. To what extent, however, remains to be defined.
For the Governmenton the other hand, – continues Il Sole – leaving MPS is tempting for possible collections: the entire package of 26.7% at current prices, yesterday up by another 2.27% to 5.09 euros, it may be worth around 1.7 billion. Not bad after the two operations which – taking advantage of the significant rally recorded by the stock, which has grown by over 130% in the last year – have yielded a total proceeds of around 1.6 billionexactly what was injected by the Government in the 2.5 billion capital increase carried out at the end of 2022. The operational scheme is being discussed in circles close to the Mef, moreover, it goes in parallel with the core drilling, which also remains ongoing, to select an industrial partner: the market is always looking at UniCredit, BancoBpm and Bperwho remain the three suspects for a possible merger with Siena.
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