Axa liquidates its stake in Mps: here’s what’s happening
Like a bolt from the blue. Axa has liquidated its entire stake in Mps, equal to 7.9% of the share capital, also realizing a capital gain on the profuse investment with the capital increase. The French would have guaranteed themselves 80 million in profit. But the question that resonates is: why? Why did Axa decide to leave a bank which, after very complicated years, is it getting back on track and that it can play an important role in outlining the famous third pole, an alternative to Unicredit and Intesa Sanpaolo? Meanwhile, Affaritaliani.it can collect a sensational indiscretion: in tomorrow’s meeting in which the securities placed on the Ftse Mib are decided, it could be the day of the return of Monte dei Paschi di Siena. It is at the moment an indiscretion which, however, is circulating with insistence.
Let’s go back to the relationship with the French of Axa and their choice to leave MPS. The financial community is indulging in various theories. But, first of all, the facts. The French, who until yesterday held a share of 7.9% of the Sienese bank, have always behaved as pure investors. They got their hands on their portfolio with the capital increase, joining quickly and without hesitation. Then, they decided to switch to cash. They did so on a day in which the stock was trading well above 2.7 euros per share. Today, after the announcement of the operation, the decline is more than 11%, but this is a widely expected trend.
The French would have realized – pending the official communication – a capital gain of around 80 million euros and they would have resold their share to a plurality of subjects. In short, they have not delivered their share to a single investor, but have poured it into the market, making the title more liquid (and more palatable). This is further good news for Siena, which had already seen almost triple requests for the bond placed last week. The Mount becomes interesting againwaiting to know who will be indicated by the Mef for the lists that will be presented in view of the meeting of 20 April.
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