Final in crescendo for Unicredit that approaches the threshold of 10 euros. The stock scores more than + 5% at € 9.83, outperforming the banking sector which is the most tonic in Europe today (+ 2.13% the Euro Stoxx Banks). The market looks to the latest rumors on the M&A front. According to what reported by Il Messaggero, the Treasury would have in mind to convince Piazza Gae Aulenti to buy 51% of that majority stake of more than 64% held by the Mef itself at symbolic values, and remain in the capital of Monte with a stake of 13 %.
The Italian government would also like to ask Europe for an extension of 6 months and to encourage the sale of its stake held in MPS it would be studying the possibility of offering the acquiring bank to benefit from the transformation into tax credits of the DTAs, in the event that the deal was announced by June 2022 and the integration completed within three years. Banca Akros however points out that the sale of 51% of Mps to Unicredit could limit Unicredit’s synergies from the operation. Akros confirms neutral on Unicredit (target price at € 8.90) reiterating the skepticism about the marriage with MPS that would not solve the bank’s under-penetration in Lombardy.
Meanwhile, today Ubs raised the target price on Unicredit to € 12.40 from € 11.70, with a confirmed buy judgment.