Monte dei paschi di siena Confirms itself as a burden on Italian taxpayers’ shoulders. The account opened with the state is still exceeding. 4 billion eurosDespite efforts to save the bank and reduce the state’s share. Public intervention, expensive and controversial, has left an economic stain that is slow to recover, a symbol of a complex financial issue that is still far from searching for a final closure.
Maf’s intervention in 2017: People’s money to save the bank
The first chapter of rescue is written in the summer. 2017When the Ministry of Economy and Finance decides to put it in the bank’s treasury. 5.4 billion euros. Of this amount, 3.9 billion was intended to increase capital, while 1.5 billion was used to compensate for those who were punished by the load distribution. An operation that caused MEF to occupy 68% of MPS capital, which approved the state’s widespread entry into the management of Sienese Bank.
Failed Integration with Bad Loans and Unicredit
In an attempt to lighten the burden of bad debt, the hydra operation was again activated, in which the MEF -owned company Emco was sold on the 8 billion euro’s bad loan market values. But in 2021, when we tried to open a new page with. Integration in UnicreditThe negotiating table is closed. EBA, the results raised by the European Banking Authority, prevent the contract, which requires the strengthening of new capital to MPS.
Public money continues: Increase and profit in capital
In December 2021, the bank returned to knock on the gate of the state. To guarantee the increase in capital of 2.5 billion euros, Treasury participates with 1.6 billion, Prolving public engagement. Meanwhile, between 2023 and 2024, the Treasury gradually began to decline, which fell 11.2 % of the capital and collected 2.7 billion euros. There is a small sign of recovery. Magio 2024When MPS becomes. Distribute profit after 13 years.: 88.9 million euros, some of which go to Treasury.
Medobanca’s MPS offer was inspected by markets.
But let’s go back to today. Today, after the Black Friday, after which MPS suffered a loss of 6.9% in the stock market, Monte Dei Paschi’s public exchange offer is under re -examination by the markets. The meeting of the Board of Directors will be held tomorrow. Renato Pagliaro, led by Medobanca’s 13.3 billion euro operation, fully shared, to be classified as enmity.
It will also be analyzed by lawyers to confirm the correctness of the matter. On the board, as Corrire writes, the positions of Sabrina Pucci and Sandro Panizza, minority councilors expressed and expressed Coltagirone GroupShares with 19.8% and 7.8% shares respectively.
Fire Week for MPIOBANCA’s high management
Hot week for Medobanca’s CEO, Alberto Nagle, and MPS chief Luigi Lovaglio. Public exchange offer, which is praised by Lovaglio as “Frontier” for the Italian market, aims to link Siena’s retail banking with Milani Wealth Management and Investment Banking, aimed at a new in this field To make a company.
But Analyst Large investment banks are left. Suspicious. In reports published by Friday, it is feared that the contract will create “chaos” and encourage the emission of consultancy professionals, which will complicate the generation of income capacity.
Next steps: Offer Document and Meeting of February Board of Directors
Including the route. Present the Consob document. AndPermissions from ECB. CEO Luigi Lovaglio will present 2024 accounts on February 5, which is an opportunity to talk more about the operation on Mediobanca.
Then it will be central.MPS Assembly on 17 AprilCalling his opinion on the offer. The goal is the maiticanic: to achieve 66.67% of the capital of MedobanicaWith the launch of the operation between June and July. The support of Delphin, Caltagirone and Emma Holding, with the market, will be important for the success of the project.
The role of Medobanica’s tricks and generals
Medobanca does not want to leave control over MPS. The defense of the agreement comes through a relationship with Nagal’s major investors, including members of the consultation agreement that control 11.4% of capital.
These include Mediolanum, with the Berlusconi family shareholder Fininvest, and other important Italian businesses. In the background, the comparison is connected. The future of the generalWhich has 13 % of Medobanica. ‘May Assembly Tryste will be important for the renewal of Lion leaders, in a scenario that sees Delphin and Coltgirone once again in the center of the dynamics of power.
