UniCredit, the market believes in the takeover bid on Bpm. The bank: “No Board of Directors called”

UniCredit “continues to evaluate all available strategic options”

It is not just that bullish scenario on rates. The risiko banking returns protagonist to Piazza Affari. The market believes in rumor of a upcoming maneuver from UniCredit on the Banco Bpm from Giuseppe Castagnarumors that the CEO of Piazza Gae Aulenti Andrea Orcel would be ready to launch an offer, complete with Takeover bidalready in this weekendrumors that, according to what is reported by the Messengerthey run “in the upper echelons of finance” And “even in government circlesAnd that, after the strong increases this week (very high trading volumes) also thanks to the good accounts of the Castagna group, have given wings to the stock of Piazza Meda.

On the stock exchange, at the sound of the bell, the shares did not price all morning And mid-sessionreadmitted to trading, they shot up by 6.43% to 3.442 eurosto then end the session with a rise of 9.8% to 3,551 euros, leading to + 24% the budget of the week. Bets on risiko of the Italian credit have also supported the title Soul, asset manager of which Banco Bpm holds a stake of around 20% and which at the end of the day took home a gain of 5.52% at € 4,839.

Precisely on the subject of consolidation opportunities for one’s bank, in the last one conference call on financial results, Orcel had returned to underline (remarked several times in recent months) how “M&A” must be “an accelerator of our strategy”but which the bank at the moment “has great chances of grow organically “.

“Our job is to see all the opportunities in the markets we are in, but any transaction must respect clear criteria, for example it must not affect our distribution capacity. We do not need to do anything, we have the critical mass: if there are opportunities we will seize them if there are no “, added the banker right after he withdrew from the campaign on the Russian group. Otkritie and that Moscow wants to reprivatize.

Sources close to the bank have made it known that there would be no imminent maneuveralso because there would be no conditions for a merger of quality in line with Orcel’s objectives, but in a subsequent official note (urged by Consob) a UniCredit spokesperson did not deny the transactionhowever, clarifying that “as part of its business and in line with the 2022-2024 business plan, the bank continues to evaluate all available strategic options and will not fail to keep the market informed of any concrete development “and specifying that”no extraordinary board meeting has been called “. The market is waiting for consolidation, therefore, the lack of denial has fueled speculation. In the evening, sources close to the Piazza Meda group also made it known that they “had not received any communication” about possible takeover bids.

(Continued: the dossier on Orcel’s table and the execution risks)