The words of the Minister of Economy Daniele Franco inflames the Mps title: the prices of the Sienese bank closed the session on Friday flying by 7.6%, after the Treasury holder aired the possibility of una partnership in futuro, rekindling the bets and hopes of an M&A operation for Monte dei Paschi di Siena. After the flop of the negotiations with UniCredit, in short, the Treasury – Mef- main shareholder of Monte with a 64% stake, does not renounce the plan to marry what it is considered a bank that nobody wants, except for a substantial state dowry.
In this regard it is worth remembering that, among the reasons why the now ex AD Guido Bastianini would have been fired, there is precisely the fact that the manager would have preferred a stand-alone solution for the institution rather than the so-called structural solutionthe one that provides for a merger with another institution.
READ: The reasons for the expulsion of Bastianini
Like this Daniele Franco, during the press conference that followed yesterday’s council of ministers:
On banks, “it is in the interest of the government and the community to have a solid and efficient system” and “it is not up to us to interfere in the choice of private banks”, underlined Franco, then speaking of the case of Mps: “Obviously we have a more relevant interest in MPS of which the Treasury holds two thirds. In recent days, the Board of Directors unanimously decided on a change in management, it is important that MPS becomes more solid and continues to develop with a future in mind that could be a partnership. It is absolutely important that the roots and a brand that is that of the oldest European bank be consolidated and maintained “.
The buy boom that invested the MPS stock was such that, after Franco’s words, the share also entered the volatility auction after having regained the positive territory, to then close the session with a jump of 7.62% to 1.045 euros.
But certainly the title, despite the fears advanced by politicians and trade unions – see statements by M5S but also by Matteo Salvini, leader of the League – also benefited from the change of guard imposed by the Treasury, therefore from the expulsion of Bastianini and the appointment of the new CEO Luigi Lovaglio, formerly of UniCredit and former CreVal, so much so that, on a weekly basis, it jumped by nearly 13%.
UniCredit-Banco BPM: the market believes in it
Yesterday, another great protagonist of the stock market was Banco BPM: the stock closed the session of the Ftse Mib with a 9.8% rally in the wake of the rumors reported by the Messenger, according to which Unicredit, after having renounced making an offer for Banca MPS, could concentrate in the near future on an integration with Banco BPM, the bank headed by Giuseppe Castagna. The Roman newspaper also talks about a possible very fast timing with the possible arrival already this weekend – practically in the next few hours of a proposal, or even the launch of a takeover bid.
Many analysts believe Banco BPM, the third largest Italian bank by size, is a very interesting solution for UniCredit as it would allow it to grow in regions such as Lombardy and add profitable segments to its business. And in any case, even before the negotiations started exclusively between Mef and UniCredit to find an MPS-saving solution, among the thundering rumors of the markets there were also those according to which Orcel had already targeted Banco BPM.
It is true that on the part of Piazza Gae Aulenti there was one half denial of the rumors of the Messenger. But, given the performance of the stock, + 10%, it seems that the market, after all, believed in Andrea Orcel’s desire for M&A