“UniCredit thought it was participating in a sale, but the Treasury was correct in respecting the valorisation commitments” of Mps and the territory. Thus Enrico Letta, secretary of the PD, answering Fabio Fazio’s question on the flop of the negotiations between Mef and UniCredit on Mps, during the @chetempochefa broadcast:
“We are talking about a brand, the oldest bank brand in the world“, said Letta, who won the by-election in Siena for the seat in the Chamber left vacant by Pier Carlo Padoan, now president of UniCredit.
Letta said he is confident that “there will be other options” for MPS.
Today, Sunday 24 October, the flop of the negotiations on Monte dei Paschi between the Tesoro, the main shareholder of the Sienese bank with a 64% stake, and UniCredit was confirmed by a joint note from the Ministry of Economy and Finance and the bank managed by Andrea Orcel:
“Despite the efforts made by both parties, UniCredit and the Ministry of Economy and Finance (MEF) communicate the interruption of negotiations relating to the potential acquisition of a defined perimeter of Banca Monte dei Paschi di Siena”.