Unicredit launches supply on Banco Bpm: particulars and prospects of the operation | EUROtoday

Regarding MPS, the CEO of Unicredit mentioned he was not thinking about shares of the Sienese financial institution, of which BancoBpm has 5% and was planning for an aggregation, with the purpose of creating the third banking hub, along with having launched final November sixth a takeover bid on Anima.

On the Commerzbank concern, nonetheless, Orcel has made it clear that he’ll give the German monetary system on a regular basis essential to metabolize Piazza Cordusio’s transfer. “We will proceed with an acquisition of the German bank only under certain conditions, which require a change in the positions of certain counterparties,” underlined the Italian banker. Orcel additionally recalled that “out of respect for Germany and its elections” in any case “there would not have been the possibility of moving in the short term and perhaps there won’t be any at all”. “While we wait we are comfortable in our position and can discuss it constructively without forcing the topic,” he concluded.

«Now they’ve to judge Banco Bpm’s board of administrators and shareholders»

Orcel lastly wrote on Linkedin and in a message on the Unicredit web site that «At the second, the supply we now have introduced isn’t binding, and there’s no certainty that an settlement might be reached. The accountability for evaluating this supply lies with the board of administrators of Banco Bpm and the shareholders of each establishments. We hope to satisfy them quickly to debate the small print immediately with them.”

The reactions of politicians

«I never like concentrations and monopolies. I was left with the fact that Unicredit had to grow in Germany. I don’t know why he changed his mind”, mentioned the minister Matteo Salvini on the sidelines of the XXIV version of the Italia Direzione Nord exhibition, promoted by the Stelline Foundation, underway on the Milan Triennale. «Also as a result of Unicredit now has little Italian, it’s a international financial institution. What is essential to me, nonetheless, is that corporations similar to Bpm and Monte Paschi that are collaborating with Italian entities for a 3rd Italian hub will not be put in problem. My query and that of many savers is: however is Bankitalia there? Are you vigilant?”, the minister’s words. Who concluded: «As an Italian I would like to know. I wouldn’t want anyone to want to stop the Bpm and MontePaschi agreement. But there is Bank of Italy, so we sleep soundly.”

Financial reactions

«I do not touch upon this. It is a market operation that evaluates the market.” Thus Matteo Laterza, CEO of Unipol, on the sidelines of the inauguration of the sixth red bench on the day against violence against women, in via Melchiorre Gioia in Milan, responding to a question regarding the public exchange offer launched this morning by Unicredit on Banco Bpm. For Filippo Diodovich, Senior Market Strategist of Ig Italia, «Unicredit has turned the spotlight on the Italian financial landscape with an announcement that could redefine the country’s banking sector. This bold and strategic move marks a new chapter in the history of large banking mergers and acquisitions in Italy, aiming to create a giant capable of facing the global challenges of the market.”