Bper could see rivals popping up in the match for the acquisition of Carige. According to some rumors collected by La Stampa, in fact, the Fitd (Interbank Deposit Protection Fund), the major shareholder of Carige, does not intend to grant Bper the exclusivity for the negotiation, as instead requested by the Emilian bank, in order not to preclude a priori the possibility that other operators present offers, perhaps more attractive.
The Fitd had in fact shown a certain openness to studying Bper’s proposal well, which in turn had confirmed its willingness (towards the Fund) “to provide the requested clarifications and to carry out the investigations deemed necessary, as well as to jointly verify the hypotheses to the basis of the Offer; all in the context of an adequate exclusivity regime “.
But the fund, by not granting the exclusivity to Bper Banca, could bring other banking institutions back into the running. And, according to the newspaper, it cannot be ruled out that Credit Agricole, despite the words of disinterest pronounced in recent days by the number one Giampiero Maioli, can take up the dossier on Carige again.
Bper had put up a non-binding proposal, with a request for support of 1 billion to the controlling shareholder and the subsequent launch of a takeover bid for minority shareholders, 11% of the capital, at 0.80 euros for action. The Fitd replied that the offer deserved “in-depth analysis” but that it could not be taken into consideration, because, by statute, the consortium of Italian banks cannot support a commitment greater than 600 million in recapitalization.
Bper’s offer was welcomed by the large banking groups, but also by the government and Bank of Italy; while small and medium-sized institutions were more skeptical, for which sharing a 1 billion euro recapitalization would have been onerous.
Meanwhile, Bper Banca is moving into positive ground on the stock market, with an increase of 1.14% at the moment to 1.78 euros per share. The Emilian bank in the wake of the offer on Carige, has gained more than 7% since the beginning of December, thus bringing it to almost 20% from the price at the beginning of the year.
Technical analysis
Despite the recent increases, the technical situation on the stock shows a price position within a wide lateral trading range since March of this year between 1.64 and 2 euros. To the downside, the situation could worsen if the stock falls below the current support level 1,73 euro, with a deeper target in the € 1.70 area. On the contrary, in the case of purchases on the title it will be essential to exceed upwards with area volumes 1,87 euro before attempting to recover the highs for the period at € 2.