(Alliance News) - The market has given a cold shoulder to the Mediobanca-MPS dossier. It was a black Friday on the Milan Stock Exchange for both stocks, which, after a cautious start, plummeted: Siena dropped by 6.8%, while Piazzetta Cuccia fell by 6.2%, with trading volumes double the average. This was reported on Monday by Il Corriere della Sera in its Economy section.
The uncertainty weighing on the market concerns the share swap plan, "paper for paper," the details of which will only be revealed on March 10, as well as estimates for synergies of EUR700 million, considered overly cautious compared to speculative expectations of EUR1.0 billion.
CEO Luigi Lovaglio is looking ahead to 2030, promising a 40% increase in dividends and describing the stake in Generali as a "nice to have" to be maintained within Mediobanca for its established know-how. Meanwhile, the focus shifts to appointments. Among the potential candidates for the new board of directors at MPS are heavyweight names such as Corrado Passera and Carlo Vivaldi, but the ECB remains a sticking point: authorization to present the list of candidates is still pending.
The restructuring is intertwined with maneuvers at Banco BPM, a shareholder of Monte, fueling scenarios of a national banking hub endorsed by Rome. The contractual issue for Mediobanca's chairman, Vittorio Grilli, also remains unresolved, still awaiting formalization. These are decisive days for defining the new balance of Italian finance, amid regulatory vetoes and market pressures.
By Michele Cirulli, Alliance News reporter
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